Australian renewable energy company, Carnegie Wave Energy, has received a AUD 1.3 million payment from the Australian Renewable Energy Agency (ARENA) for completion of the onshore power plant for the Perth Project.
As previously announced on 21 January 2015, Carnegie received AUD 0.05 million for completion of the onshore plant through the WA Government’s LEED fund. At that time Carnegie also invoiced AUD 1.3 million to ARENA for the completion of the same milestone. Both these payments have now been received. This brings the total milestone payments received for the onshore power generation system to AUD 1.75 million.
Subsequent to the completion of the onshore power plant, the plant was connected to the electricity grid at HMAS Stirling in February 2015.