Carnegie Wave has received a payment from Australian Renewable Energy Agency (ARENA) in the amount of USD 1 mln (AUD 1.3 mln).
The payment was received for the completion of onshore power plant at the Perth Wave Energy Project.
In January, Carnegie received approximately USD 45.000 from Western Australia Government for the completion of the onshore plant, and together with the payment from ARENA, the total amounts to USD 1.368 mln (AUD 1.75 mln).
Following the completion of the onshore power plant, wave energy plant was connected to the grid in February, 2015.
ARENA was established by the Australian Government as an independent agency to make renewable energy technologies more affordable and increase the amount of renewable energy used in Australia.
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Image: Carnegie Wave