CorPower Ocean has secured a EUR 40m grant from the EU Innovation Fund to support the development of VianaWave, a pre-commercial 10MW wave energy farm to be deployed off the coast of northern Portugal.

The project represents a major step toward achieving Portugal’s National Energy and Climate Plan (NECP) goal of 200MW of installed wave energy capacity by 2030. VianaWave will feature a CorPack consisting of 30 Wave Energy Converters (WECs), generating approximately 30GWh of clean, renewable electricity each year – enough to power 7,500 Portuguese homes, while significantly reducing greenhouse gas emissions.

Set to commence operations in 2028/2029, VianaWave builds on CorPower’s successful HiWave-5 demonstrator program, marking a shift from pilot-scale demonstrations to commercial rollout.

The initiative positions Portugal at the forefront of the global wave energy sector and serves as a springboard toward broader gigawatt-scale rollouts. According to the EU-funded EVOLVE study, Portugal holds an estimated 15GW of wave energy potential, offering a unique opportunity to become a renewable energy powerhouse.

The Innovation Fund grant will not only finance wave farm technology and infrastructure but also support significant investment in onshore facilities. This includes expansion of electrical infrastructure in Agucadoura and Póvoa de Varzim, and the development of CorPower Ocean’s operational base at the Port of Viana do Castelo. In total, an estimated 75% of the project’s lifetime value will be spent within Portugal, boosting the local economy and creating high-quality jobs across engineering, construction, and operations.

CorPower Ocean Commercial Director Kevin Rebenius said: 
“This is a pivotal milestone for CorPower Ocean and the wave energy sector as a whole. VianaWave shows that wave energy is ready to scale. With strong support from the Innovation Fund and the Portuguese ecosystem , we are accelerating the transition to a sustainable, resilient energy system while delivering local economic value.”

Beyond the immediate benefits, VianaWave is expected to stimulate industrial supply chains, attract future investment, and reinforce Portugal’s reputation as a center for clean technology innovation. It highlights the strategic role wave energy can play in ensuring energy security, meeting climate targets, and driving long-term regional development.

KeyFacts Energy Industry Directory: CorPower Ocean