Carnegie Wave Energy has received approval for $460.246 of Government grant payments for the Perth Wave Energy Project.
Western Australia has provided $267.238 under the Low Emission Energy Development (LEED) fund, which represents the final payment for the Perth Wave Energy Project from LEED fund, Carnegie’s press release reads.
Carnegie will receive payments from LEED for the final two operational milestones of $133.619 each.
In addition, the final desalination milestone payment has been approved by AusIndustry in the amount of $11.929.
Carnegie has also received approval from the Australian Renewable Energy Agency (ARENA) for a milestone payment of $181.079 for the practical completion of the Project.
This brings the total of all approved milestone payments across the Perth Project to 95 percent as per the funding agreements, Carnegie’s press release reads.
Earlier this year, Carnegie connected Perth Wave Energy Project to the grid , and the power produced from the wave power plant will be used on Garden Island by HMAS Stirling, Australian naval base.
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Image: Carnegie Wave Energy