10th Dec 2009 07:00
10 December 2009
Renewable Energy Holdings plc
("REH" or the "Company")
Carnegie Wave Energy Limited update
REH, the AIM quoted investor and operator of proven renewable energy technologies, is pleased to provide an update released on 7 December 2009 by Carnegie Wave Energy Limited ("Carnegie"), in which REH holds 235 million fully paid ordinary shares, or approximately 31%.
The Company's Chief Executive, Mike Proffitt, said:
"We are very pleased with this progress which further de-risks the project and paves the way for the completion of the technology development, a necessary step prior to commercial deployment."
Carnegie announcement:
Licence for Perth wave energy site signed
Carnegie & WA Government sign wave energy license
Allows the installation of commercial scale CETO unit off Garden Island
This will be the first commercial scale wave power unit deployed in Australia
Wave energy developer Carnegie Wave Energy Limited (ASX: CWE) is pleased to advise that it has executed a deed of licence with the State of Western Australian Government for access to a designated area of seabed in waters to the west of Garden Island off Perth, Western Australia.
Carnegie has been working with the Department of Regional Development and Lands (DRDL) who manage Crown Land in Western Australia, along with other State Government Departments, to process Carnegie's license application over recent months. Execution of the licence provides Carnegie with permission, subject to specific covenants, to install and operate a commercial scale, autonomous CETO wave energy device to verify its energy delivery performance for a period of up to 3 years.
The activities to be undertaken under the licence form part of Carnegie's 5MW commercial demonstration project supported by $12.5m of State Government Low Emissions Energy Development (LEED) funding.
Activities in the licence area are well progressed. Deployment of the first commercial scale, autonomous CETO wave energy unit will begin shortly with the installation of the unit's mooring system. This will be the first commercial scale wave energy unit to be deployed in Australia
About CETO
The CETO system distinguishes itself from other wave energy devices by operating out of sight and being anchored to the ocean floor. An array of submerged buoys is tethered to seabed pump units. The buoys move in harmony with the motion of the passing waves, driving the pumps which in turn pressurise water that is delivered ashore via a pipeline.
High-pressure water is used to drive hydroelectric turbines, generating zero-emission electricity. The high-pressure water can also be used to supply a reverse osmosis desalination plant, replacing greenhouse gas emitting electrically driven pumps usually required for such plants.
CETO Technology characteristics include:
CETO converts wave energy into zero-emission electricity;
CETO is environmentally friendly, has no visual impact and attracts marine life; and
CETO is fully submerged in deep water away from popular surf breaks.
About Carnegie
Carnegie Wave Energy Limited is an Australian, ASX-listed (CWE) wave energy and clean technology developer. Carnegie is the owner and developer of the CETO Wave Energy Technology intellectual property.
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For more information: |
Media: |
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Dr Michael Ottaviano |
Sarah Allchurch |
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Managing Director |
Allchurch Communications |
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Carnegie Wave Energy Limited |
0412 346 412 |
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(08) 9486 4466 |
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A full announcement with diagrams is available on www.carnegiewave.com
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Enquiries:
Renewable Energy Holdings plc Tel: 01624 641199
Mike Proffitt, Chief Executive
Strand Hanson Limited Tel: +44 20 7409 3494
Rory Murphy/James Spinney/Liam Buswell
Novus Capital Markets Limited Tel: +44 20 7107 1872
Paul Dudley/Charles Goodfellow
Financial Dynamics
Jonathon Brill/Billy Clegg/Edward Westropp/Alex Beagley Tel: +44 20 7831 3113
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