http://news.smh.com.au/albany-welcomes-wave-power-study/20080416-26jo.html
Carnegie Corporation Ltd has been granted an exclusive option by the City of Albany in southern Western Australia to carry out a feasibility study into the area's potential as a site for its wave energy project.
The green energy company said in a statement on Wednesday that it is examining a range of Australian and international locations, which combine strong wave energy resources with favourable pricing structures, for its CETO wave energy project.
It said assessments have highlighted several domestic locations, particularly in South Australia, Victoria and Western Australia, that offer the requisite wave energy resources.
The company is in the final stages of the CETO technology development.
Carnegie will own 100 per cent of all CETO wave farms in the southern hemisphere.
The northern hemisphere farms will be owned jointly by UK Renewable Energy Holdings plc, in which Carnegie has a three per cent interest, and the world's largest power company, EDF EN, the former French national power company.
The first commercial CETO wave energy project will be the only facility in the world to offer zero-emission, base load renewable energy plus zero emission desalinated water.
It is the brainchild of well known Perth-based mining figure Alan Burns, who chaired the highly successful petroleum firm Hardman Resources Ltd, which was eventually acquired by London-headquartered Tullow Oil plc.
Shares in Carnegie closed one and a half cents, or 5.08 per cent, lower at 28 cents on Wednesday.
CNM
carnegie corporation limited
