This invention relates to a wave energy recovery apparatus with a power-take-off arrangement comprising at least a base (1), a reciprocating panel (2), two power-take-off (PTO) units (6) with one or more generators (14) to convert kinetic energy of waves or tidal currents to electricity, at least two gear transmissions operatively connected between the panel (2) and the generators (14) and at least two one-way clutch mechanisms (10) to control the directions of rotation of the generators (14). The panel (2) is arranged to rotate a half of the generators (14) when rotating into one direction and another half of the generators when rotating into the opposite direction.