CARNEGIE Wave Energy says the Australian Federal Government has awarded it an $11m grant to support its next wave power project.
This grant is matched by the $20m five year loan facility from the Clean Energy Finance Corporation previously announced in March 2014.
The CETO 6 project will be located at Garden Island in Western Australia. All the power generated from the project will be bought by the Australian Department of Defence under Carnegie’s existing power supply agreement for use at HMAS Stirling, Australia’s largest naval base which is located on Garden Island.
Three CETO 6 units will be deployed off the coast of Garden Island and connected to the Western Australian electricity grid. It will have up to 3MW in capacity – with each CETO 6 unit having a target capacity of 1MW (four times the capacity of the current CETO 5 generation of technology).
According to Carnegie Wave Energy, this increased capacity, combined with superior efficiency, delivers significantly reduced power costs will boost its competitiveness against other forms of power generation.
The CETO system is different from other wave energy devices as it operates under water where it is safer from large storms and invisible from the shore. The technology is capable of generating power onshore or offshore, converting ocean wave energy into electricity and desalinated water. It is also touted as environmentally friendly.