Fremantle-based Carnegie Wave Energy has celebrated the installation of its first CETO 5 wave technology unit off Garden Island, marking the start of its $30 million wave energy project.
Fremantle-based Carnegie Wave Energy has celebrated the installation of its first CETO 5 wave technology unit off Garden Island, marking the start of its $30 million wave energy project.
In a statement to the ASX today, Carnegie said the unit was successfully installed and had now been operating for over a week.
“The sea state conditions experienced during this initial operation period have ranged up to maximum wave heights approaching 3.5 metres and unit performance to date has been as expected with no faults identified,” the company said.
Carnegie managing director Michael Ottaviano said the CETO 5 unit was delivering significant amounts of real-time data in regards to hydrodynamic movement, pressures, flows, loads, displacements and the like.
He said the data collected from the unit would be used to finalise the design of the company’s 1 megawatt CETO 6 system, which is scheduled to be completed next year.
However, the company said a connection to the Western Power grid would only occur once it has full confidence in the power quality and system control being achieved.
“Until that point, the hydraulic energy delivered ashore will be measured and run through a load bank at the onshore power station site at HMAS Stirling on Garden Island,” Carnegie said.
Australian Renewable Energy Agency chief executive Ivor Frischknecht said Carnegie’s achievement was a significant milestone for wave energy in Australia.
“This project demonstrates that wave energy has a real future as part of Australia’s energy mix,” he said.
“It is also evidence that developing and commercialising new technologies takes considerable time, resources and financing.
“The CETO technology has been progressively scaled up over the past decade and has made great strides towards offering a competitive renewable energy solution.”
Carnegie’s second CETO 5 unit is likely to be deployed in December, depending on weather conditions, with a third unit is expected to be deployed shortly after.
The CETO technology operates underwater and captures wave power, which pumps water at high pressures and drives turbines and generators to produce electricity.
It generates both power and water from the ocean swell while remaining submerged, increasing its ability to survive large storms.
Shares in Carnegie were 1.7 per cent higher at 5.9 cents per share at the close of trade.
