Carnegie Gets Milestone Payment for CETO 6 Design Completion

Carnegie Clean Energy has received $1.1 million as a grant payment for the completion of the CETO 6 design.

Carnegie received the design completion milestone payment from Australian Renewable Energy Agency (ARENA).

The completed CETO 6 design is for the Garden Island Wave Project, located offshore Australia.

The CETO 6 unit has a targeted 1MW power capacity.

The CETO 6 project is supported by $11m funding from ARENA’s Emerging Renewables Program and a five year $20 million loan facility from the Commonwealth Bank.

The clean, renewable energy generated by the project will be sold to the Australian Department of Defence at Australia’s largest naval base, HMAS Stirling.