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Carnegie and Enel Green Power to collaborate on wave energy

03.08.2018

  • Carnegie and Enel Green Power to collaborate on wave energy
  • €1 million (AU$1.6 million) investment by Enel Green Power
  • Collaboration focused on CETO 6, Albany and Wave Energy Research Centre
  • Collaboration extends to pursuing international opportunities for CETO

Carnegie Clean Energy (ASX: CCE) is pleased to announce the signing of a Collaboration Agreement with global renewables player Enel Green Power (EGP) which will see EGP invest €1 million (AU$1.6 million) in the research, development and deployment of the CETO wave energy technology. EGP will also become a technical advisory committee member of both Carnegie and the Wave Energy Research Centre run by the University of Western Australia with support from the WA State Government.

Enel Green Power (EGP) is the renewable energy division of the Enel Group, one of the largest
energy companies in the world. EGP is a global leader in renewable energy with a presence
in Europe, the Americas, Asia, Africa and Oceania. It manages around 42,000 MW of
renewable energy plants across wind, solar, geothermal and hydropower, and is at the
forefront of integrating innovative technologies into renewable power plants.

Carnegie and EGP will collaborate on the development and testing of the CETO technology,
the Albany Wave Energy Project and future CETO projects. EGP will invest €1 million (AU$1.6
million) into the development of CETO across a number of milestones. Carnegie and EGP will
also work together to identify, develop and invest in opportunities for CETO across Australia,
Europe and internationally.

Carnegie’s Managing Director, Dr Michael Ottaviano, said:

“We are delighted to be collaborating with a global leader in renewable energy such as Enel
Green Power. Their deep experience of the renewables market globally will help Carnegie to
tailor its CETO technology to the needs of its future utility customers.”

“Our belief in the potential of CETO remains undiminished. Wave energy remains the last great
untapped renewable resource globally. Like all power technologies, its commercialisation
requires the collaboration and consistent commitment of innovators, governments, research
and industry leaders of the likes of Enel Green Power.”