Ann: CETO Project Update , page-3

Well there is some very good news:

"The location of the first large scale commercial project will occur at one of the CETO international sites currently being studied. Carnegie has been investigating several locations globally where high power tariffs co-exist with excellent wave resources. Some of these sites also involve mandated Government support for renewable energy generally and wave energy specifically. The combination of these factors will contribute to an attractive economic return for the first large scale project. A decision on the location of the first international project site is expected shortly."