Wave energy developer Carnegie Wave Energy Limited has received approval for $1.5 million in milestone payments from the Australian Renewable Energy Agency (ARENA) for completion and deployment of the CETO units and commissioning of the Perth Wave Energy Project (Perth Project).
Carnegie will receive milestone payments from ARENA of $1.5m for the manufacture, completion and deployment of the three CETO 5 units as well as the successful commissioning of the Perth Project. The commissioning milestone was awarded as all operational components of the Project are installed and operational and practical completion was reached on all Project construction activities. The Perth Project is the only grid connected wave energy project currently operating anywhere in the world. The three CETO Units have cumulatively operated for more than 9,500 hours.
As previously announced, Carnegie has now retrieved CETO 5 Unit #1 as part of the overall Project maintenance strategy. This Unit is now undergoing inspection onshore after operating for over 4,000 hours. Carnegie’s aim is to redeploy Unit 1 and progressively retrieve Units 2 and 3 during winter when installation and retrieval conditions are more challenging.