Carnegie Wave Energy has completed 12 months of operations in its development of the CETO 5 Perth Project.
The milestone is a stipulation required in its government grant funding agreement.
It means Carnegie has now submitted all grant milestone invoices totalling A$955,043 to the Government of Western Australia’s Low Emissions Energy Development fund and the Australian government’s Australian Renewable Energy Agency.
Carnegie has now met all the requirements of its Leed funding agreement and received 100% of the grant payments from the Western Australia government.
The company has also received a payment of A$66,537 from Arena for the first six months of operational milestones and has submitted the final milestone invoice for completing the full 12 months of operations.
Final documentation for the Perth project will be submitted to Arena soon and this will complete Carnegie’s obligations under its funding agreement with Arena for the Perth project.
Payment of A$200,000 has also been received by Carnegie for the concept design milestone of its CETO 6 project.
Image: Installation of Ceto 5 at Perth (Carnegie)
