WA must embrace dawn of renewable energy era or risk being left behind
Carnegie Wave Energy is conducting one of the world’s most successful wave energy projects, generating power for the naval base on Garden Island. Carnegie has recently won funding from the Australian Renewable Energy Agency (Arena) to help develop its CETO wave energy technology which could attract interest from around the world.
CARNEGIE LOOKS TO MICRO-GRID MARKET WITH EMC ACQUISITION
CARNEGIE Wave Energy (Carnegie) has acquired the remaining 65 per cent of energy company Energy Made Clean (EMC) for $13 million. Carnegie would pay $2.6m in cash instalments and $10.4m in Carnegie shares, with EMC managing director John Davidson retaining his role and joining the Carnegie board as a nonexecutive director. By uniting the two companies into a single entity, Carnegie said it would be able to fast track delivery of endtoend clean energy microgrid systems utilising a combination of wave, wind and solar energy and lithium battery storage.
Australian Financial Review- Carnegie Wave Energy in $13m acquisition of microgrid developer Energy Made Clean
Carnegie Wave Energy is poised to become the only ASX-listed company with the capability to deliver renewable energy microgrids after inking a $13 million deal to acquire private developer Energy Made Clean. The deal, to be announced on Wednesday, will see Carnegie invest $2.6 million in cash and $10.4 million in stock to acquire the remaining 65 per cent of EMC it does not already own.
Carnegie Wave up on Energy Made Clean acquisition
Shares in Carnegie Wave Energy were higher after the company said it would spend $13 million in cash and scrip to take 100 per cent ownership of local success story Energy Made Clean (EMC). Carnegie took a 35 per cent stake the company earlier this year as part of a strategic alliance and diversification strategy. Under the terms of the latest deal, Carnegie will pay $2.6 million in cash and $10.4 million in shares to take the remaining 65 per cent stake in EMC. The company hopes to exploit the growing renewable energy microgrid project market which is expected to be worth $US40 billion by 2020.
Carnegie secures $3.7m debt funding for wave based Microgrid
Carnegie Wave Energy’s plans to develop the world’s first solar, battery and wave integrated microgrid have been given a major boost, with the Perth company securing $3.69 million in debt funding for the project. The debt funding deal adds to the $2.5 million awarded to the project by the Australian Renewable Energy Agency in September.
Catching the waves: it’s time for Australia to embrace ocean renewable energy
Wind and solar may be currently leading the way in Australia’s renewable energy race, but there’s another contender lurking in the nation’s oceans. Australia arguably possesses the world’s largest wave energy resource, around 1,800 terawatt hours. Most of this is concentrated in the southern half of the continent, between Geraldton and Brisbane. To put this in context, Australia used 248 terawatt hours of electricity in 201314.
Carnegie Wave Energy up on Sri Lankan agreement
Carnegie Wave Energy has signed a memorandum of understanding (MOU) with a Sri Lankan company for commercial wave and microgrid projects in the country. The wave energy firm will work with Lanka Energy Conservation to identify opportunities and development pathways for its technology on the island nation.
WA firm's world first wave/solar power grid
WA-based Carnegie Wave Energy is planning to integrate wave and solar power with batteries to create what it says is the world’s first “wave-integrated renewable energy microgrid”. The company will spend $7.5 million building and installing a 2MW solar PV array and a 2MW/0.5MWh battery to store energy.
WA renewable energy project a world first
Wave energy, solar power and battery storage will be integrated in one system in a world first by Perthbased company Carnegie Wave Energy. The project enhances Carnegie's existing CETO wave technology on the Garden Island naval base off Perth's coast by adding a solar photovoltaic array and battery energy storage system.
Perth company Carnegie Wave Energy awarded $2.5m
PERTH inventor Carnegie Wave Energy has been awarded $2.5 million for its “world first” solar, battery and wave integrated project in WA. The Australian Renewable Energy Agency has donated the extra funding, which will go towards its $7.5 million Garden Island microgrid project, deployed off the coast of Kwinana Beach.