Carnegie Clean Energy has signed a collaboration agreement with global renewables player Enel Green Power (EGP).
The deal will see EGP invest $1.6 million in the research, development and deployment of Carnegie’s 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 Government.
“We are delighted to be collaborating with a global leader in renewable energy such as Enel Green Power,” Carnegie managing director Dr Michael Ottaviano said.
“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.”
EGP is the renewable energy division of the Enel Group, one of the largest energy companies in the world.
It manages around 42,000MW 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.
Carnegie and EGP will also work together to identify, develop and invest in opportunities for CETO across Australia, Europe and internationally.
The World Energy Council (2016) forecasts installed capacity of ocean energy of up to 62,000MW by 2040.