MoU signed between S.D.E Company and Government of Gujarat, India for building a 5MW sea wave power plant

TEL AVIV, ISRAEL: Recently, S.D.E's subsidiary, Om Sai Mantra Powergen Pvt ltd, signed a MOU with the Government of Gujarat, represented by Energy & Petrochemicals Department.

This Memorandum of Understanding was signed in Ahmedabd (Gujarat, India) during the Vibrant Gujarat Global Investors' Summit 2009. Sailal Jedhiya, one of the directors in S.D.E's subsidiary, has signed the MoU on behalf of the Company, and V.H. Buch, a director of the Energy & Petrochemicals Department, signed on behalf of the Government of Gujarat.

The president of S.D.E ltd and Om Sai Mantra Powergen Pvt Ltd, Shmuel Ovadia, had prior commitments in the US, and could not arrive at the Summit. However, he has sent his congratulations for this accomplishment and said that "this is an important breakthrough for S.D.E Company."

According to the MoU, Om Sai Mantra Powergen Pvt ltd intends to commence commercial production of a 5MW Power Plant, with a total value of $5,000,000 Million USD by December 2010.

In order to enable Om Sai Mantra Powergen Pvt ltd to implement the above project, the Government of Gujarat said that it would facilitate Om Sai Mantra Powergen Pvt ltd to obtain necessary permissions/registrations from concered departments of the State and Central Government and would also help to avail incentives under various schemes announced by the State/Central Government, wherever applicable.

In the next phase, S.D.E will build a 100MW sea wave power plant, and the Government has authorized a budget of $700,000,000 Million USD, for this purpose.

This is a very important accomplishment for S.D.E Company that has maintained contacts with the Indian National Electric Company, PCT India, since the beginning of 2007. In that year, PCT India issued a letter that stated that PCT in-principle agrees to purchase power from the aforesaid project on long term basis, subject to Power Purchase Agreement.

The technology of producing electricity from sea waves is innovative and a leading method worldwide. Pollution and global warming as a result of fuel usage have taught the world that the largest world resource to create electricity is sea waves.

The system has the highest efficiency in the world by the new method and is offered at a very attractive price. S.D.E has an international patent and also patents pending. To this day, the company has built 8 models that have been successful and the last of them has produced 40kW/h. The models were financed, checked, and approved by the Israeli Government.

In addition, S.D.E's system is weather-proof, unlike similar systems that have been applied in the world. S.D.E has contacts with government offices, universities and is negotiating with large companies all over the world.

The erection cost of a 1MW S.D.E. station starts from $650,000 while a comparable station costs $1,500,000 from coal, $900,000 from natural gas, $3,000,000 from solar sources, and $1,500,000 from wind. Using S.D.E. technology, production of electricity is very low, compared to 3 cents from coal, 3.5 cents from natural gas, 12 cents from solar energy, and 3.6 cents from wind.

The first commercial model using the system, has worked successfully for 1 year in Jaffa Prot. The system has several advantages that are: high efficiency, ability to modulate and the ability to store the energy from sea waves.

The system S.D.E offers produces renewable and clean energy - the perfect alternative solution. The company has developed a power-plant that produces electricity from sea waves. Sea waves have potential for even greater energy - 4 times more per square meter than wind.

Using the power of sea waves across the world, the system that S.D.E has developed is able to supply 500 times more than the electricity requirements of the whole world's population, while the shortage of electricity in the world is very severe and it's estimated to be hundreds of billions of dollars.