Carnegie Achieves Two Progress Milestones for Perth Wave Energy Project

Wave energy developer Carnegie Wave Energy Limited announced the completion of two progress milestones for the pipeline and CETO unit components of the Perth Wave Energy Project. 

Carnegie received $937,200 for completion of two milestones from the Western Australian State Government under its LEED Grant.

The milestone payments were awarded for Carnegie’s progress including the testing and delivery of pipeline materials and advancement of the manufacturing of CETO units. The CETO system is different from other wave energy devices because it operates under water and is anchored to the ocean floor.

Carnegie has submitted milestone payment claims worth $1,043,127 for the completion of these milestones to the Australian Government under its grant from the Australian Renewable Energy Agency (ARENA) Emerging Renewables Program.

Press Release, February 17, 2014; Image: Carnegie