A wave energy capturing device (10) comprising a base (12) adapted for fixed connection to a submerged surface (14). At least one elongate buoyant paddle (26) is pivotally mounted to the base (12) about a first pivotal axis (22), for angular oscillation through an angle range when wave motion applies a force to the paddle (26). The paddle (26) has a longitudinal axis (27), an upper end portion and a lower end portion. An energy transfer member is attached to the paddle (26) and is adapted to be driven by the angular oscillation of the paddle (26). A paddle adjustment assembly is associated with the paddle (26) and is adapted to adjust the angle range of the paddle (26) in magnitude and/or angular position relative to the first pivotal axis (22).