Enel Green Power (EGP) is to invest €1m in Australian wave developer Carnegie Clean Energy as the cornerstone of a new collaboration agreement.
The cash injection by the Italian developer will used to further research, development and deployment of the Western Australian outfit’s Ceto wave technology.
EGP will also become a technical advisory committee member of both Carnegie and the Wave Energy Research Centre run by the University of Western Australia with support from the state government.
Carnegie and EGP will collaborate on the development and testing of the Ceto technology, the Albany Wave Energy Project and future Ceto projects.
The duo will also work together to identify, develop and invest in opportunities for Ceto across Australia, Europe and internationally.
Carnegie director Michael Ottaviano said: “EGP’s deep experience of the renewables market globally will help us to tailor our Ceto technology to the needs of its future utility customers.”
Image: Ceto6M (Carnegie Clean Energy)