Wave energy developer Carnegie Wave Energy Limited announces the formal completion of Government Grant Milestone 3 of the Perth Wave Energy Project, the ordering of long lead items.

The eligible Government payment for the completion of the Milestone totals $2,770,422 of which $950,759 has already been received from the Western Australian Government. The remaining $1,819,663 from the Australian Federal Government is expected to be received in the next 14 days.

Milestone 3 involved the ordering of key components and long lead items for the Perth Wave Energy Project. The key work packages where commitments have been announced to date include the pump, the buoyant actuator, all accumulators and valves, the CETO unit attachment and foundation connector, and CETO unit energy relief system, piping, foundations and tethers. The final key work package outstanding is the award of the onshore power station and control system. This is expected to be announced in the coming days.

Press Release, September 17, 2013