NOVELTY - The wave energy absorber (105) is used for absorbing wave energy. The rack and pinion arrangement is used for driving generator (102). The orientation of generator is adjusted by orientating mechanism based on the changes in the orientation of rack. The inner float (110) is used for defining the sealed volume for accommodating the rack and pinion arrangement together with generator. The translator is coupled to rack and absorber such that rack is driven by absorber. The seal arrangement is provided in inner float for facilitating reciprocal movement of translator.    USE - Wave energy converter of wave energy conversion system (claimed).    ADVANTAGE - The mechanical energy can be directly converted to electrical energy while increasing the efficiency of wave energy conversion system and eliminating the need for using hydraulic/pneumatic circuits. The mechanical tolerance of the rack and pinion arrangement is greater than the generators so that the rack and pinion arrangement is more robust than the generators. The switched reluctance machine is not directly interfaced with the wave absorber so that the need for maintaining a consistently small air-gap over a few meters in energetic waves can be eliminated. The overall sea worthiness of the wave energy conversion system can be improved while reducing the need for constraints to maintain the alignment between the torus and inner float. The wave energy conversion system can be adapted to varying wave regimes. The mechanical energy can be efficiently converted into useful power. The diameters pinions and rotors of generators can be suitably sized so as to maximize the generation of rotary motion.    DETAILED DESCRIPTION - An INDEPENDENT CLAIM is included for wave energy conversion system.    DESCRIPTION OF DRAWING(S) - The drawing shows a schematic view of wave energy conversion system.    Wave energy conversion system (100)    Generator (102)    Wave energy absorber (105)    Inner float (110)    Translator pole (132)