Blackbird Intl to build wave energy power plant in Guinea-Bissau

Romana Food Brands

05/05/2015 12:42

JERUSALEM, May 5 (Reuters) - Energy firm Blackbird 
International  BBRD.PK  said on Tuesday it will build a $500 
million, 500 megawatt power plant using sea wave energy along 
the coastline of Guinea-Bissau. 
    The project will be a joint venture with the Guinea-Bissau 
government, which will have a 30 percent stake and earn 40 
percent of profits over 25 years. 
    Blackbird International, which is the sole shareholder of 
Israeli energy firm Wave Electricity Renewal Power Ocean, 
estimated project costs of $325 million and said the government 
will pay 10 cents per kilowatt hour. 
    It expects construction to take three years and that annual 
revenue will be $50 million. 
 
 (Reporting by Ari Rabinovitch) 
 ((ari.rabinovitch@thomsonreuters.com;  +972-2-632-2202; Reuters 
Messaging: ari.rabinovitch@thomsonreuters.com@reuters.net)) 
 
Keywords: BLACKBIRD BISSAU/POWERSTATION