Carnegie Receives Funding from WA Govt for Milestone of Perth Wave Energy Project

Wave energy developer Carnegie Wave Energy Limited announced the receipt of $669,700 from the Western Australian Government for the completion of Milestone 2 of the Perth Wave Energy Project.

Milestone 2 involved the completion of the detailed design of the Perth Project which was announced in Carnegie’s most recent quarterly activities report. The submission of a claim for a similar amount to the Australian Renewable Energy Agency (ARENA) is expected to occur in the coming days.

Perth Wave Energy Project Fact File

– Project objective is the delivery of grid-connected, CETO wave energy demonstration project at lowest cost to Carnegie’s shareholders.

– The Project is support with grant funding from the Government of Western Australia through the Low Emissions Energy Development Program, as well as from the Australian Government from the Australian Renewable Energy Agency’s Emerging Renewables Program.

– Government grant funding totals $17.7m or slightly more than 50% of budgeted spend.

– Utilising Carnegie’s fully submerged and commercial proven CETO wave energy device.

– Providing clean, renewable energy to Australia’s largest naval base, HMAS Stirling, on Garden Island in Western Australia.

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Press Release, February 06, 2013