Carnegie Gets Funding for CETO Project in UK

Carnegie Wave Energy (CWE) has been granted GBP 9.55 million (USD 12 million) from the European Regional Development Fund to support the first phase of its planned 15MW commercial wave energy project at Wave Hub, Cornwall in the United Kingdom.

This project focuses on the implementation of the 1MW stage 1 of a planned phased scheme, for which stage 2 (planned for 2020/21) will deliver a subsequent 15MW commercial array at
the same site. The project will start immediately, with commissioning set for 2018, followed by 12 months of operations, Carnegie explained.

George Eustice, minister of state at the UK Department for Environment, Food and Rural Affairs (DEFRA) and MP for Camborne said: “I am delighted that Carnegie secured the £9.55 million of ERDF funding and chosen to deliver its CETO wave energy project at Wave Hub.”

Carnegie’s managing director and chief executive officer, Dr. Michael Ottaviano said: “The United Kingdom offers unique advantages for the commercialization of CETO. This funding from the European Regional Development Fund is a prime example of the funding support available that is accompanied by marine energy revenue support, experienced supply chains, demonstration sites such as Wave Hub and deep investment knowledge in the renewable energy sector. We are delighted to have been selected through what is a highly competitive process consisting of a rigorous technical and commercial assessment process.”

“Being able to deploy our commercial generation CETO units at the purpose built, grid connected Wave Hub test site, that also offers project expansion capability, significantly de-risks and accelerates our path to commercialization. We are pleased that stage 2 is set to offer a commercial return on investment with its 15MW array which will allow third party investment in this stage.”

Cornwall Council’s cabinet member for economy and culture, Julian German said: “Cornwall has made significant investments into marine renewables energy (MRE) with the goal of securing our low carbon future and to create a Cornwall and Isles of Scilly energy market. Attracting Carnegie, as a recognised world leading wave energy developer, to Cornwall reflects our long term and continued support to the sector and our world class testing facilities, wave energy resource, exceptional skills and internationally recognised offshore renewables supply chain.”

Carnegie UK’s CEO, Tim Sawyer said: “Over the last 10 years, Carnegie has made tremendous strides in the development of its CETO wave energy technology. Securing ERDF funding, and bringing in additional private investment, means we can now deliver stage 1 of our planned 15MW commercial wave energy project at Wave Hub, leveraging the UK’s world class marine science, engineering research and operational expertise.”

The project will be delivered by CWE UK, based at Hayle Marine Renewable Business Park, with commercial and technical support from its Australian parent company and developer of the CETO wave energy technology, Carnegie Wave Energy.