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FOCUS ON CORNWALL


CETO 6 WAVE HUB PROJECT


CARNEGIE CLEAN ENERGY IS AN AUSTRALIAN, ASX-LISTED (ASX: CCE) WAVE ENERGY TECHNOLOGY DEVELOPER AND IS THE 100% OWNER AND DEVELOPER OF THE CETO WAVE ENERGY TECHNOLOGY.


The CETO 6 Wave Hub Project is Carnegie’s first international CETO project and will be located at the world class Wave Hub facility in Cornwall, UK.


EUROPEAN REGIONAL DEVELOPMENT FUND FUNDING


CETO Wave Energy UK Ltd (CWE UK), a wholly owned subsidiary of Carnegie, was granted £9,551,962 in November 2016 from the European Regional Development Fund (ERDF), to support the first phase of this planned 15MW commercial wave energy project. The ERDF grant, part of the European Structural and Investment Funds Growth Programme 2014-2020, forms 65% of the funding for stage 1: a £14.7m project to design, construct, install and operate a single 1 megawatt (MW) grid-connected CETO 6 wave energy converter device at the purpose built Wave Hub test site.


DESIGN PHASE


The project is currently in the design phase, with the focus on adapting the CETO technology to local conditions


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and industrialisation for large scale deployment using the local supply chain, ahead of deploying a 15MW commercial array in 2020/21. Completion of the project presents a


real opportunity to commercialise wave energy in the UK through bridging the gap between technology readiness and commercialisation. The project will be delivered locally by CWE UK, based at Hayle Marine Renewable Business Park, with commercial and technical support from its Australian parent company.


PROJECT DELIVERY


Delivery of the project will leverage Cornwall’s and the UK’s exceptional wave energy resource, marine energy revenue support, maritime industrial heritage, the world class Wave Hub infrastructure and active and innovative marine engineering and research sectors.


DEVELOPMENT TECHNOLOGY


Carnegie has been developing its CETO wave energy technology for over ten years, culminating in the deployment


www.wavetidalenergynetwork.co.uk


and operation of a grid connected array of three CETO 5 units in 2014/15, known as the Perth Wave Energy Project (PWEP), at Garden Island in Western Australia. The PWEP accumulated over 14,000 hours of operation and was the only known grid connected, wave energy array operating in the world in 2015.


LEVELISED COST OF ENERGY


The CETO Wave Hub project will use CETO 6th generation technology that offers higher rated capacity and increased efficiency which, when deployed in large commercial arrays, will ultimately deliver a levelised cost of energy competitive with offshore wind. Longer term development will continue to push costs lower below this benchmark.


Carnegie Clean Energy


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