The project, which is claimed to be the first grid wave power plant connected to an electricity grid in Gibraltar and in Europe, features an array of wave power generators designed to produce 100KW of electricity.
Additional features include floaters which move up and down along the movement of the waves to create pressure to drive a hydro motor and a generator.
The smart automation system provided by the technology also controls the storm-protection mechanism of the power station while ensuring stable transmission of clean electricity to the grid.
Power generated from the project will be sold to Gibraltar Electric Authority under power purchase agreement.
Eco Wave Power is now considering a significant expansion of power plant capacity from 100KW to 1MW to 5MW.
Eco Wave Power co-founders David Leb and Inna Braverman said in joint statement: "We are already taking the next steps to move our technology forward.
"Planning and design works has begun on Eco Wave Power’s next generation of 1MW to 5MW power plant by using larger units aiming to deliver around 10 times the capacity of Eco Wave Power’s current units in Gibraltar and improving its efficiency.
"This progress is a clear example that given time and with the right governmental support, wave energy can progress along the innovation chain towards commercialization."
Image: Eco Wave Power’s wave power plant in Gibraltar. Photo: courtesy of Eco Wave Power.