Carnegie Cashes in AUD 1.9 Million

Wave energy developer Carnegie Wave Energy Limited  announced the completion of the final foundation milestone and a progress milestone for the onshore plant component of the Perth Wave Energy Project with the receipt of $ 0.7 million from the Western Australian State Government and $ 1,2 million in payment claims submitted to the Australian Government.

Carnegie received $ 0,7 million for completion of two milestones from the Western Australian State Government under its LEED Grant. The milestone payments were awarded for Carnegie’s progress on the onshore plant and the completion of the foundations for the Perth Project.

Carnegie has submitted milestone payment claims worth $1,2 million for the completion of these milestones to the Australian Government under its grant from the Australian Renewable Energy Agency (ARENA) Emerging Renewables Program.

Press Release, March 31, 2014; Image: carnegie

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