This paper assesses the impact of a farm of wave energy converters on a nearby offshore aquaculture installation and on the nearshore dynamics. The coastal area targeted is Aguçadoura, located in the north of Portugal, where the world’s first wave farm operated in 2008. The study is focused mainly on the evaluation of the sheltering effect provided by the wave farm to the aquaculture cages. Furthermore, the possible impact on the coastal wave climate of such an energy park is also evaluated. These objectives are accomplished by performing simulations, corresponding to the wave conditions, which are more often encountered in that coastal environment. The SWAN model (Simulating WAves Nearshore) was adopted for this. Various transmission scenarios are considered to account for the impact of different types of wave converter farms on the downwave conditions. The results show that such a wave energy park might have a clear positive impact on the wave conditions fish farm installed downwave and it might also have a beneficial influence on shoreline dynamics from the perspective of coastal protection.