CETO Wave Energy Ireland (CWEI), a wholly-owned subsidiary of Carnegie Clean Energy, has achieved a milestone as part of the ACHIEVE project, coming one step closer to deploying its CETO wave energy converter in the Basque Country, Spain.
CWEI passed the EuropeWave Authorisation to Proceed (ATP) milestone as part of its EuropeWave ACHIEVE Contract, said to represent a significant stage gate, with the EuropeWave Buyers Group reviewing technical and commercial deliverables, unlocking significant procurement activities.
As part of the milestone, CWEI submitted documents covering financial, technical, safety, regulatory, and testing aspects, which were reviewed by the EuropeWave Buyers Group to determine whether it was ready to proceed to the next stage of contract delivery, marking another step towards the deployment of CETO at the Biscay Marine Energy Platform (BiMEP).
The company will now begin awarding contracts for the fabrication and procurement of long lead items. Passing the ATP milestone also unlocks a EuropeWave milestone payment of approximately €168,000 which can now be invoiced.
“Passing the Authorisation to Proceed milestone of the EuropeWave contract is a testament to the team’s hard work and vision for the ACHIEVE Programme, which will be a key strategic step in CETO’s commercialisation journey,” said Miguel Santos Herrán , the ACHIEVE Project Manager.
“For us, this is an exciting green light. We keep taking important steps towards being grid connected and generating renewable electricity from waves in the Basque Country.”
CETO is a fully submerged, point absorber type wave energy technology device. A submerged buoy sits a few meters below the surface and moves with the ocean’s waves. This orbital motion drives a power take-off (PTO) system that converts this motion into electricity.
CWEI earlier this month secured a berth for the deployment of CETO at BiMEP.