Carnegie Wave has been granted approval for receiving $1.15 million in milestone payments from the Australian Renewable Energy Agency (ARENA).
Carnegie will receive $1.15 mln (Au$ 1.5 mln) in milestone payments from ARENA for the manufacture, completion and deployment of the three CETO 5 units as well as the commissioning of the Perth Wave Energy Project, Carnegie’s press release reads.
The commissioning milestone was awarded as all operational components of the Perth Wave project are installed and operational, and practical completion was reached on all construction activities for the project, according to Carnegie.
The three CETO 5 units have cumulatively operated for more than 9.500 hours.
As announced earlier, Carnegie has retrieved the first CETO 5 unit for maintenance and inspection.
According to Carnegie, the company plans to redeploy CETO Unit 1 and progressively retrieve Units 2 and 3 for onshore inspection during summer.
Carnegie Wave Energy is an Australian wave energy player that has designed CETO technology, and developed Perth Wave Energy Project .
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