Carnegie Clean Energy has received Au$1.1 million ($790,000) from the Australian government as a grant payment for the completion of the CETO 6 wave energy device design.
The design completion payment was received from the Australian Renewable Energy Agency (ARENA) for the completion of the CETO 6 design for the Garden Island Wave Project.
The CETO 6 unit has a targeted 1MW power capacity, some four times of the previous CETO 5 generation used in the Perth Wave Energy Project.
The Garden Island Wave Project project is supported by Au$11 million funding from ARENA’s Emerging Renewables Program and a five year Au$20 million loan facility from the Commonwealth Bank.
The clean, renewable energy generated by the project will be sold to the Australian Department of Defence at Australia’s largest naval base, HMAS Stirling, on Garden Island in Western Australia, according to Carnegie.
ARENA was established by the Australian government to make renewable energy technologies more affordable and increase the supply of renewable energy in Australia.