Carnegie Established UK Subsidiary

Wave energy developer, Carnegie Wave Energy Limited announced the establishment of a 100% owned subsidiary, CETO Wave Energy UK Limited and the appointment of Mr Allan MacAskill to the Board of Directors of CWE UK.

CWE UK will be operated out of headquarters in Edinburgh, Scotland and will be the platform for running all Carnegie’s activities in the United Kingdom. The United Kingdom is generally considered to be the hub of wave activities globally and brings together coordinated commercialisation support including feed-in tariffs, capital grant support, offshore testing infrastructure, legislative and regulatory support and offshore wave project leasing rounds. This support in turn has led to significant industrial activity from power utilities, equipment suppliers and players throughout the supply chain.

Mr MacAskill brings to the Board of CWE UK over 20 years of energy experience in the offshore oil and gas industry and offshore wind industry in the UK and North America. Allan conceived and developed the Beatrice offshore wind demonstrator project in Scotland which pioneered the development of large-scale windfarms in the deeper waters in the UK and was also the Coordinator of Europe’s largest renewable energy R&D programme. Allan was also a founder of SeaEnergy Renewables which built an offshore wind pipeline portfolio of 3325 MW in the UK before being acquired for €57 million by Spanish energy utility Repsol. He is also a Director of Scottish Renewables, Scotland’s principle renewables industry body.

Carnegie’s Managing Director and Chief Executive Officer, Dr Michael Ottaviano, said:

“I’m delighted to welcome Allan to the Carnegie team and to establish the platform the Carnegie’s business growth in the UK. Allan brings extensive offshore oil and gas and offshore wind experience that will be invaluable for Carnegie activities in the UK.”

Mr Allan MacAskill said:

“I’m extremely pleased to be appointed by Carnegie to the Board of CWE UK and look forward to assisting in the roll out of Carnegie’s unique CETO Wave Technology throughout the UK. There is an enormous opportunity to capitalise on the excellence resource, local skills and Government support for wave energy throughout the UK.”

[mappress]

Press release, March 08, 2013; Image: carnegie