Hong Kong Financial Time Non-fuel electricity generation is the irresistible trend of future power. A new research on wave-powered dynamo has been carried out by Hong Kong University recently. The foam plastic spheres were uses pass on the momentum of waves, which later on transform into electricity that supply to every household. It is expected to cut the cost of each watt-hour. This new research on green power became the current focus of the Mechanical Engineering faculty of the Hong Kong University. A Hong Kong residing French inventor - Lucien Gambarota originated the inspiration of wave power. It all began when Gambarota was working on another project off shore; his realization of wave force has brought him the inspiration and conceived the idea of wave-powered dynamo. The SAR government’s promote investment agency – Invest Hong Kong has been introduced to Gambarota’s wave-powered dynamo, as a result, the Hong Kong University and Gambarota formed an annexation in order to take the project to a greater depth. Gambarota claimed the power that transformed by the wave momentum should produce enough energy to pump and collect water for hydroelectric turbine. Lower cost than Wind energy Gambarota gave an example of the possible cost for wave-powered dynamo – enough for 20% of Hong Kong electricity. To create a 10 square miles of floating foam spheres along the bank of Po Toi would take one thousand sets of 1,000 feet long floating spheres. Each set of floating spheres would cost approximately hundred thousand US Dollars (approx.780 thousand HKD). The whole section estimated cost of 780 millions Hong Kong Dollars. He emphasized the cost is still far lower than wind energy and land for windmills are not an easy option for Hong Kong. Many outskirt islands such as Wang Lan Island and Po Toi Island are low in population, therefore are most suitable for develop wavepowered dynamo. Moreover, there would be unlimited supply for natural waves. He estimated there would be a price drop for 0.1 to 0.2 dollar per kilowatt-hour when wave-powered dynamo in use. Recently, CLP announced the proposal for building mass hydroelectric turbines. An estimation price of 1.5 dollar per kilowatt-hour has been reported. That could mean a price rise of 90% - despite the current charge is 0.87 dollar per kilowatt-hour. Leung Kwok Hey, an assistant professor from Mechanical Engineering faculty of the Hong Kong University also a participant of the wave-power project said it is an early stage to give comment on electricity prices. He emphasized that the final cost of the project and electricity price would all depends on the scale and effectiveness of the design. He also said that the potential in developing wave power in Hong Kong is much greater than in wind energy. Two of CLP Research Institute members attended a Hong Kong University lecture on the technique of wave-powered dynamo. Nang Chi Cheung, the Innovation architect of CLP, claimed that CLP pays closed attention to the latest news of any technology on renewable resources. He also stated that other then wind energy, Hong Kong is restricted with hydro power due to the city having no major rivers and still observing the technique of the wave power.