Carnegie wins $15.75 million grant for WA project

Company News

by Kathy Skantzos

Carnegie Clean Energy (ASX:CCE) has won a $15.75 million grant from the Western Australian government for its Albany Wave Energy Project.

An additional $3.75 million has been awarded to the University of Western Australia to establish an associated national Wave Energy Research Centre co-located in Albany in Western Australia.

In addition, the Australian Renewable Energy Agency (ARENA) board has conditionally approved the transfer of Carnegie’s $11.7 million underdrawn CETO 6 Project funding from Garden Island to Albany.

Carnegie will commence work on the project immediately including project design, site surveys, wave buoy deployment, community consultation and approvals.

Shares in Carnegie Clean Energy (ASX:CCE) last traded 2.33 per cent higher to 4.4 cents a share.