Carnegie takes first step to wave energy

A Preliminary review into the feasibility of a wave energy farm in Albany has concluded there is unlikely to be “fatal flaws” in the proposed development, Carnegie Corporation Ltd said. The Perth-based company said while it was a positive result, it was only the first step in a wider, detailed environmental assessment of the project. The Preliminary Environmental Constraints Review studied Carnegie’s 30,000 hectares of offshore wave resource and an adjacent shore area, located 15 kilometres south-west of Albany. Environment consultants RPS Environment carried out the study. “The report concluded that based on the available information, ‘it appears unlikely there would be any fatal flaws in the proposed development due to environmental considerations,” Carnegie said in a statement. “Some aspects of the project design may need to incorporate environmental considerations and further studies are necessary to determine the nature and extent of these requirements.” Carnegie plans to develop the farm using CETO technology, which uses an array of submerged buoys tied to seabed pump units. The buoys use wave motions to drive the pumps that pressurise seawater, which is delivered ashore via a pipeline that then drives hydro turbines used to generate electricity. Early last month, Carnegie was issued a five-year exclusive licence to identify suitable areas for a wave energy facility off Albany’s coastline


(existing subscribers)

The password field is case sensitive.
Request new password

Add your comment

Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 29/06/18

1 year TSR5 year TSR
298thWestoz Investment Company28%10%
767thCarnegie Clean Energy-61%-6%
722 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

$372k Sold
$5k Bought
$10k Bought
Total value as at the date of the transaction
Source: Morningstar


96th↑Carnegie Clean Energy$5.3m
107th↓Westoz Investment Company$3.4m
239 listed industrial companies ranked by revenue.
Source: Morningstar

Remuneration from Carnegie Clean Energy

102ndMichael Ottaviano$728k
334thGrant Mooney$159k
1110thMichael Fitzpatrick$60k
Ranked by total remuneration from all listed WA companies

BNiQ Disclaimer