Carnegie and Defence Sign Landmark Wave Energy Agreement

18 Juli 2012

Key power supply for Navy use wave energy (image : Carnegie) 

Wave energy developer, Carnegie Wave Energy Limited (ASX:CWE), is pleased  to announce the signing of key agreements with the Australian  Department of Defence unveiled  today  by the Australian Prime Minister, the  Honourable Julia Gillard, and the Federal Member for Brand, the Honourable Gary Gray, at Carnegie’s Wave Energy Research facility at Fremantle, Western Australia.

Australian Department of Defence  (Defence) and Carnegie have  signed formal power supply and grid connection  agreements for  the Perth Wave Energy Project on Garden Island, the base of HMAS Stirling, Australia’s  largest naval facility.  These agreements  govern the exclusive purchase of  all the  electricity generated from the Perth Wave Energy Project and the connection of the wave project into the local HMAS Stirling electrical infrastructure.

The signing of this licence marks the end of a rigorous assessment process by  Defence and symbolises their ongoing commitment to reducing their environmental footprint and supporting local industry. Whilst providing HMAS Stirling with a source of renewable green power, the project would also contribute to Defence and Commonwealth greenhouse gas reduction targets.Carnegie has been working with Defence since the signing of a Memorandum of  Understanding in December 2008. Since then Carnegie has successfully demonstrated the CETO technology at  large  scale in the ocean offshore of Garden Island.  At the same time,  Carnegie has  significantly developed  the Project design and secured 50% government funding for the project. The Project received funding from the Government of Western Australia through the Low Emissions Energy Development Program as well as from the Australian Government as part of the Emerging Renewables Program.

Perth Wave Energy Project Fact File

 CETO grid-connected, wave energy demonstration project.

 Australian  Federal and  Western Australian  State  Government  grants  funding approximately 50% of Project costs.

 Utilising Carnegie’s fully submerged and commercial proven CETO wave energy device.

 Providing clean, renewable energy to Australia’s largest naval base, HMAS

Stirling, on Garden Island in Western Australia

(Carnegie Wave)