Carnegie Wave Energy is Close to Project Commercialization in Australia

Carnegie Wave Energy Limited (ASX: CWE) advises that its three CETO 5 Buoyant Actuators were unveiled today by the Federal Energy Minster at BAE Systems in Henderson, Western Australia.

The CETO 5 Buoyant Actuators were unveiled today by the Hon Ian Macfarlane MP, Federal Energy Minister, and Ivor Frishknecht, CEO of ARENA, the Federal Government renewable energy funding body. The buoys were recently delivered to BAE Systems to commence the assembly and pre-installation testing phase of the CETO units prior to installation off Garden Island in the coming months.

CETO differs from other wave technologies under development globally by being fully submerged and being able to generate power both onshore and offshore

During his unveiling speech Mr Macfarlane described Carnegie Wave Energy’s technology as “one of the most exciting forms of renewable energy”.

“Australia is fortunate to have access to a diverse energy mix, including renewables,” Mr Macfarlane said. “The project at Carnegie Wave Energy is a great example of Australian ingenuity. Carnegie has shown long-term commitment to the development of this technology. I’m delighted that they are now at the business end of the process. Once it’s developed on a larger scale, this type of alternative energy source will play a role in helping to lower carbon emissions, both in Australia and in other countries.”

Dr Ottaviano said: “We are delighted today to have the Minister unveil these buoys, which represent the pointy end of the Perth Wave Energy Project. More than $70 million has been invested in commercialising this technology and now the finish line is in sight”.

Mr Frischknecht said, “ARENA is very pleased to be supporting this vital project with $13.1 million funding.”

The three Buoyant Actuators are now being fitted out with instrumentation and energy relief systems ahead of assembly to the tethers, pumps and foundation connectors. The units form the proprietary wave energy collection system of Carnegie’s flagship Perth Wave Energy Project which will be commissioned in the coming months off Garden Island in Western Australia. The Project will supply power and water to the Australian Department of Defence for use at HMAS Stirling, Australia’s largest naval base, located on Garden Island.

Once commissioned, the Perth Wave Energy Project will be the first operating wave energy array project in the world and the first to produce both clean energy and freshwater.

Source: Carnegie Wave Energy

 

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