West Perth-based Carnegie Wave Energy has joined forces with Ireland's national energy authority to develop a wave energy project.
West Perth-based Carnegie Wave Energy has joined forces with Ireland's national energy authority to develop a wave energy project.
In a statement to the Australian Securities Exchange Carnegie said it had signed a formal agreement with Ireland's Ocean Energy Development Unit, which is part of the Sustainable Energy Authority to develop the technology.
"The three year Agreement appoints Carnegie as a developer for the Ocean Energy
Project and represents a major step forward towards the commercial testing and roll out of the CETO Wave Technology in Ireland," the statement said.
The CETO system operates out of sight and anchored to the ocean floor.
An array of submerged buoys is tethered to seabed pump units and they move in harmony with the motion of the passing waves, driving the pumps which in turn pressurise water that is delivered ashore via pipeline.
The Irish Government is providing dedicated funding for the project.
"We are pleased to continue to make progress on targeting the most attractive
locations for our initial CETO wave energy projects," said Carnegie's managing director and chief executive officer Michael Ottaviano.
"The Irish Government has clearly signaled that wave energy is on the radar with grant and tariff incentives and aggressive targets," he said.
See company statement below:
Wave Energy developer Carnegie Wave Energy Limited (ASX: CWE) is pleased
to announce the signing of a formal Collaboration Agreement with Sustainable
Energy Authority Ireland's (SEAI) Ocean Energy Development Unit (OEDU) to
jointly develop a Wave Energy Project at the Belmullet Wave Energy Test Site,
and other locations in Ireland (the "Ocean Energy Project").
The three year Agreement appoints Carnegie as a developer for the Ocean Energy
Project and represents a major step forward towards the commercial testing and roll
out of the CETO Wave Technology in Ireland.
Carnegie's Ireland-based and newly appointed Executive Director, Kieran O'Brien,
said, "This represents the culmination of over 12 months of collaboration with the SEAI.
Carnegie looks forward to continuing to work with the SEAI and the Project partners
to plan, install and commission the commercial test site as the first step for
commercial roll out of CETO in Ireland".
Carnegie's Managing Director and Chief Executive Officer, Dr Michael Ottaviano,
said, "We are pleased to continue to make progress on targeting the most attractive
locations for our initial CETO wave energy projects. The Irish Government has
clearly signaled that wave energy is on the radar with grant and tariff incentives and
aggressive targets."
To support the development of ocean energy, the Irish Government is providing
dedicated grant funding to support research, development and deployment of ocean
energy and has established a feed-in tariff of €220 per megawatt hour for ocean
energy. Ireland has also set a National target to produce 33 percent of its energy
from renewable sources by 2020 including specific ocean energy targets of 75 MW
by 2012 and 500MW by 2020.
