Carnegie Clean Energy has signed of a collaboration agreement with renewables player Enel Green Power (EGP) which will see EGP invest €1 million (AU$1.6 million) in the research, development and deployment of the CETO wave energy technology.
EGP will also become a technical advisory committee member of both Carnegie and the Wave Energy Research Centre run by the University of Western Australia with support from the WA State Government.
Carnegie and EGP will collaborate on the development and testing of the CETO technology, the Albany Wave Energy Project and future CETO projects.
EGP will invest into the development of CETO across a number of milestones. Carnegie and EGP will also work together to identify, develop and invest in opportunities for CETO across Australia, Europe and internationally.
Carnegie’s managing director, Dr Michael Ottaviano , said: “We are delighted to be collaborating with a global leader in renewable energy such as Enel Green Power. Their deep experience of the renewables market globally will help Carnegie to tailor its CETO technology to the needs of its future utility customers.”
“Our belief in the potential of CETO remains undiminished. Wave energy remains the last great untapped renewable resource globally. Like all power technologies, its commercialisation requires the collaboration and consistent commitment of innovators, governments, research and industry leaders of the likes of Enel Green Power .”