Key Points

• Bharat Petroleum Corporation Limited has issued a purchase order for a site assessment at its Marine Oil Terminals at Jawahar Deep, Mumbai.
• The order moves the companies’ 2025 agreement into its first implementation phase.
• Work includes a site assessment and work plan, a study of local marine conditions, and a final assessment report.
• Completion is scheduled within four months of the purchase order’s issuance.
• The order covers assessment work—not construction of the proposed pilot or a commercial-scale installation.

Eco Wave Power (NASDAQ: WAVE) has advanced its collaboration with Bharat Petroleum Corporation Limited (BPCL) from a memorandum of understanding to a defined scope of technical work.

The assessment will evaluate whether Eco Wave Power’s onshore wave energy technology is suitable for BPCL’s existing marine infrastructure in Mumbai and provide information to support decisions about a proposed pilot installation.

Assessment Will Establish Site Suitability

The purchase order covers three main deliverables:

• A detailed site assessment and work plan.
• A metocean study addressing local marine conditions.
• A final site assessment report.

The work is scheduled to finish within four months of the order’s issuance. The information provided does not specify the purchase order’s value, the proposed pilot’s generating capacity or a construction start date.

Collaboration Builds on the 2025 Agreement

Eco Wave Power and BPCL signed their memorandum of understanding during India Energy Week in 2025. The agreement outlined a path beginning with a feasibility assessment and a planned pilot at BPCL’s Mumbai terminals, with the possibility of larger commercial projects later.

The purchase order is a concrete development step, but those later stages remain prospective. It does not establish a commitment to build the pilot or deploy commercial-scale capacity.

Technology Uses Existing Coastal Infrastructure

Eco Wave Power’s technology is designed to generate electricity from waves using existing structures such as breakwaters, piers and jetties, while keeping energy-conversion equipment accessible onshore.

That approach underpins the proposed use of BPCL’s marine terminals. Whether the Mumbai site is technically suitable is precisely what the assessment is intended to determine.

The companies cite an estimated 40,000 MW of ocean energy potential along India’s coastline. That is a national resource estimate—not the capacity of the Mumbai project or a contracted opportunity for Eco Wave Power.

Investor Takeaway: A Defined Development Step, With Commercial Scale Still Uncertain

For WAVE investors, the milestone is the transition from a strategic agreement to an issued purchase order with specific deliverables and a completion schedule.

Its financial significance remains unquantified because no order value was provided. The next meaningful developments are completion of the assessment and a decision on whether to proceed with the pilot, including its capacity, funding and installation timetable. Larger Indian deployments remain a longer-term possibility rather than secured business.

The post Eco Wave Power Secures First BPCL Purchase Order for Mumbai Wave Energy Assessment appeared first on PRISM MarketView.

COMTEX_1001976836/2927/2026-10-29T14:51:09