Success in the field of contemporary engineering requires on-going acquisition of new constructions, production technologies and solutions. The JSC Riga Shipyard was commissioned to make a unique wave converter – a floating electric power plant using sea wave power to generate electricity. The project of the alternative energy source was formulated by the Finnish firm Wello in cooperation with the European Marine Energy Centre. The ship – power plant was named the “Penguin”. It is a floating construction with the following technical parameters: displacement – about 630 t, length – 28 m, draft – 7 m, power generation – up to 0.5 MW/h. The ship was built during 2011-2012; the master builder was Dmitrijs Ļebedinecs, an engineer. The ship “Penguin” was tested in the north of Scotland – in the area of strong ocean winds and high waves. After that the trial sample was towed by a tugboat back to Riga for planned repairs and technical maintenance. In 30 April 2013 the “Penguin” was towed by the tugboat again to Scotland for further trials.