Carnegie Focuses on Perth Wave Energy Project in Q1

Carnegie Wave Energy Limited (CWE) released its quarterly report, highlighting successful project and financial activities.

During the quarter Carnegie Wave Energy Limited focused primarily on its Perth Wave Energy Project (the Perth Project) with the completion of the foundation and pipeline installation, delivery of the buoyant actuators and other CETO Unit components, commencement of assembly and testing phase and delivery of the desalination plant.

Carnegie also progressed the CETO 6 Project including signing a $20 million debt facility and completing a $9.35 million equity capital raise to fund the Project.

Highlights from the quarter include:
– Completed offshore foundation;
– Completed offshore to onshore pipeline installation;
– Buoyant Actuators received and unveiled by the Australian Federal Energy Minister;
– CETO Unit assembly and onshore testing phase commenced;
– Desalination Plant delivered to Garden Island;
– Received grant funding payments of $2.7m for the Perth Project during the quarter and an additional $2.3m in government grant payments received in April;
– Received $1m cash royalty payment for Carnegie owned gold mining royalty;
– Revealed the CETO 6 1MW CETO Unit Design;
– Signed a $20m loan facility with the Clean Energy Finance Corporation (CEFC) for CETO 6;
– Completed $9.35m equity capital raise for the CETO 6 Project design and development;
– Awarded a CETO 6 site at the government funded WaveHub in the UK.

Press Release, May 01, 2014

Share this article

Follow Subsea World News

Events>

<< Dec 2017 >>
MTWTFSS
27 28 29 30 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

SPE/IADC Middle East Drilling Technology Conference and Exhibition

The theme for this conference is “Building on Today’s Efficiencies for Tomorrow’s Market.” This will be the basis for the technical agenda…

read more >

The World Future Energy Summit (WFES) 2018

WFES will also hold its annual conference, which sees international government and business experts come together to discuss critical global…

read more >

HYPACK 2018

This training event will offer instruction on the newest features of HYPACK® 2018 as well as comprehensive training for both novice…

read more >

8th Myanmar Oil, Gas & Power Summit

The Myanmar Oil and Gas Summit is the longest established Oil & Gas event in Myanmar. Every year the event is attended by government…

read more >