Carnegie’s CETO 6 Receives First Payment from ARENA

Wave energy developer Carnegie Wave Energy Limited has announced that it has received its first payment from the Australian Renewable Energy Agency (ARENA) for completion of the first milestone of the CETO 6 Project.

CETO 5 – CETO 6

Carnegie has received $50,000 for the first milestone of the CETO 6 Project, the completion of a Knowledge Sharing Plan and detailed Project Plan. The Knowledge Sharing Plan details Carnegie’s ongoing commitment to use the Project to advance the wave energy industry globally through collaborations with industry and university partners, sharing key lessons learned with interested stakeholders and making certain data available to key stakeholders. Knowledge sharing will take place through a number of different mechanisms throughout the life of the Project.

The CETO 6 Project comprises the design, construction, deployment and demonstration of three CETO 6 units in a grid-connected, up to 3MW peak installed capacity wave energy project at Garden Island, Western Australia.

The CETO 6 Project is supported by $11m in Australian Government funding through the Australian Renewable Energy Agency’s Emerging Renewables Program and by a five year $20 million loan facility from the Australian Clean Energy Finance Corporation.

Press Release, August 11, 2014

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