05/08/2008 - 15:30

Carnegie secures exclusive wave licence

05/08/2008 - 15:30

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Perth-based Carnegie Corporation had been issued a five-year exclusive licence to identify suitable areas for a wave energy facility off Albany's coastline.

Carnegie secures exclusive wave licence

Perth-based Carnegie Corporation had been issued a five-year exclusive licence to identify suitable areas for a wave energy facility off Albany's coastline.

Below is the full announcement:

Carnegie Corporation Limited (ASX: CNM) has been advised that it will receive an exclusive wave energy license and option to lease at a site off Albany in Western Australian from the State Government for the purposes of investigating and developing a commercial wave farm.

The area is situated offshore directly adjacent to the Albany Wind Farm site over which the City of Albany recently passed a motion to grant Carnegie exclusive access for its onshore feasibility study.

As previously announced, Albany is one of a number of sites that Carnegie is assessing nationally and internationally. The granting of a license and option to lease provides Carnegie the security to move forward with its site investigation and design evaluation activities, including environmental assessments and community and other stakeholder consultations. This is a significant step forward in Carnegie developing its planned commercial demonstration 50MW zero-emission wave energy facility.

About the CETO Technology

Named after a Greek ocean goddess, the CETO system distinguishes itself from other wave energy devices by operating out of sight and being anchored to the ocean floor. An array of submerged buoys is tethered to seabed pump units. The buoys move in harmony with the motion of the passing waves, driving the pumps which in turn pressurize seawater that is delivered ashore via a pipeline. The high-pressure seawater is used to drive hydro turbines, generating base-load, zero-emission electricity. The high-pressure seawater can also be used to supply a reverse osmosis desalination plant, replacing greenhouse gas emitting pumps usually required for such plants.

CETO characteristics include:

- CETO converts wave energy into baseload zero-emission electricity.

- CETO is environmentally friendly, has no visual impact and attracts marine life.

- CETO is fully submerged in deep water away from popular surf breaks and safe from storms.

Wave as a renewable energy source:

- Wave Energy is renewable energy which can power the world twice over.

- Australia has the largest and best wave energy resource of any country.

- 60% of the world lives within 60km of a coast, minimizing transmission issues.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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