This invention relates to a wave energy recovery apparatus with an energy transfer arrangement comprising at least a base, a reciprocating panel, a pivot shaft for the reciprocating panel, a control system, and a driving and power-take-off (PTO) arrangement equipped with an actuating mechanism (6), and one or more power-take-off (PTO) units to convert kinetic energy of waves or tidal currents to another type of energy, each PTO unit comprising a hydraulic power transmission mechanism having hydraulic cylinders with pistons inside the hydraulic cylinders. The pistons are fastened with their free ends to the common connecting plate that is arranged to move all the pistons simultaneously inwards into the hydraulic cylinders and to draw all the pistons simultaneously outwards from the hydraulic cylinders.