Carnegie cashes in grant payments

CETO 6 device (Image: Carnegie Clean Energy)

Carnegie Clean Energy has over the past weeks received around $655,000 of government grant funding for its microgrid and wave energy projects.

Carnegie has received Au$670,000 ($517,000) in grant funding from the Australian Renewable Energy Agency (ARENA) for the completion of design and procurement activities for the Garden Island Microgrid Project.

These are the first milestone payments received from Au$2.5 million ($1.9 million) funding package from ARENA to support the solar, battery and wave integrated Garden Island Microgrid Project, according to Carnegie.

Furthermore, Carnegie’s UK subsidiary, CETO Wave Energy UK (CWE UK), received £108,000 ($140,000) as the first two quarterly grant payments for progress on its EU-funded CETO 6 Wave Hub project.

These grant payments were based on Carnegie’s initial design and development activity and expenditure for its CETO 6 Wave Hub project in Cornwall.

Carnegie said it received approximately £64,000 ($83,000) for the period between April and December 2016, and around £44,000 ($57,000) for progress during the first quarter of 2017.

Carnegie’s £9.6 million ($12.4 million) grant from the European Regional Development Fund (ERDF) forms 65% of funding for the proposed £14.7 million ($19 million) CETO 6 Wave Hub project.

The aim of the project is to design, construct, install and operate a grid-connected CETO 6 wave energy converter device, adapted to local conditions and industrialized for large scale commercial deployment at the purpose built Wave Hub test site in the UK.

When it comes to the Albany wave energy project, the Australian clean energy developer said it shipped one of its metocean wave measurement buoys to Albany in preparation for deployment in its offshore license area, as the discussions with the Western Australia government over its Au$19.5 million ($15 million) commitment for the project continue.

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