Brief business description

ENONDAS is a company dedicated to public service, holding a concession granted by the Portuguese Government, which aims to support the development of energy production from ocean waves, managing a maritime area of around 320 km2 and providing it with the necessary infrastructure for the development of marine energy.

Enondas activities

During the last year, Enondas continued with some of the projects it had begun
whilst carrying out its development plan.

On the other hand, the results of the project to prepare a geophysical profile
of the Pilot Area, which reached its conclusion in 2012, were promoted and
marketed to some of Enondas potential customers, namely in national and
international forums.

Following the approval of Enondas Budget in 2012 by ERSE, the government is expected to put amendments 5/2008 and 238/2008 into place in the immediate future, at which point the legal framework will be duly consolidated and all conditions met in order to proceed with the construction phase of the

Aside from these pending legal procedures, Endondas has already initiated some
vital projects to ensure the expected success of the Pilot Area; regulating access
to the Pilot Area and its environmental profile study.

As referred to above, the most important activity carried out in 2013 was
commercial, via promotion, marketing and appearances at conferences,
workshops and seminars, most notably the participation at the Fórum
Empresarial para a Economia do Mar, the presence at a workshop organised by
the Portugal-Belgium-Luxembourg Chamber of Commerce on the economy of
the sea, and the annual conference organised by Wavec – Wave Energy Centre.
The Enondas team’s visits to France and Norway to meet with manufacturers,
service providers and promoters proved to be very important for the marketing
of the Pilot Area and its potential future usage.

As part of its commercial activities and with regard to potential customers with
which it is a more advanced stage of discussions, coupled with the aspects
described in the previous paragraph, Enondas promotes, in addition to the
services it provides to its customers, ties to companies in the sector, namely
shipyards, industrial companies, maritime services companies, consultants and
service firms.

Main investments

2013 was marked by the final phase for regulating access to the Pilot Area and its
environmental profile study.

Future prospects

Enondas will continue with the infrastructure project (electricity connection
and undersea cable), and it is expected that the engineering project will be at
an advanced stage by the end of 2014.

ENONDA S will continue its marketing efforts, promoting the Pilot Area and
Portuguese companies and institutes for the know-how necessary for the
logistics chain of its customers.

Strongly dependent on discussions with the public bodies responsible for the
licensing of the project, Enondas has an open platform at its disposal, which
will be raised on opening and promoted, namely by the Directorate General
for Energy and Geology, the Portuguese Environment Agency the Directorate
General of Maritime Authority and the Directorate General of Natural Resources,
Safety and Maritime Services, in order to ensure the success of this project.

On the part of the Government, it is hoped that the importance of this project
continues to be seen from an economic, energy and innovation policy standpoint,
whilst waiting on the approval of the pending legal decrees that would finalise the
legal framework of Enondas.