Carnegie Delivers CETO 6 Commercial Design
- Business & Finance
Carnegie Wave Energy Limited released the design of its commercial generation CETO 6 unit to be used following the current Perth Wave Energy Project (Perth Project) as the company’s first production unit for sale.
The CETO 6 unit will have a 1MW (1000kW) power capacity, some four times of the current CETO 5 generation being used in the Perth Project. The increased capacity, combined with superior efficiency, delivers significantly reduced capital costs and, when deployed in large commercial size projects, is cost competitive in a range of markets globally. The CETO 6 design builds on the decade of experience gained in previous generations including the design and manufacturing of the current CETO 5 units.
The primary focus of the Company remains on the completion of construction, commissioning and operation of its Perth Project, however, given the lead times inherent in developing projects, it is important that the both CETO 6 unit and project designs and the associated financing are progressed in parallel with the Perth Project.
Carnegie’s Managing Director, Dr Michael Ottaviano, said: “The CETO 6 unit will be a commercial breakthrough for the CETO technology and Carnegie and builds on approximately 10 years and $100 million of R&D. Beyond its planned demonstration in 2016, the 1MW CETO unit will allow Carnegie and its licensee partners to roll out profitable wave power projects globally.”