Carnegie awarded EuropeWave PCP Contract

Carnegie, via its wholly owned subsidiary, CETO Wave Energy Ireland Limited, has been selected as 1 of 7 contractors to deliver Phase 1 of the €20m EuropeWave Pre-Commercial Procurement (PCP) Programme, a competitive programme to advance wave energy.

Carnegie has been awarded €291k (A$463k) for Phase 1 to deliver a CETO tank testing campaign and a CETO concept design for sites in Scotland and the Basque Country, subject to contract signing. Phase 1 will commence on 3rd January 2022 and run for 7 months.

With almost €20 million in funding for the 3 phases of the programme, which runs from 2022 to 2026, the EuropeWave PCP is a collaboration between Wave Energy Scotland (WES), a subsidiary of the Scottish Government’s Highlands and Islands Enterprise and the Basque Energy Agency (EVE).

Europe and the UK are driving forces behind the adoption of wave energy with several investments and support mechanisms underway. EuropeWave PCP’s objective is to accelerate the development of cost-effective wave energy converter systems that can survive in the harsh ocean environment, and ultimately EuropeWave PCP will contract three of the Phase 1 contractors to deploy their prototypes at BiMEP or EMEC in Phase 3.

The selection of subsequent Phase 2 (€600k) and Phase 3 (€3.75m) EuropeWave PCP contracts will be based on competitive selection within the contractors.

CETO Wave Energy Ireland will deliver Phase 1 of the PCP with an impressive team including its consortium partner SAITEC Offshore Technologies and subcontractors Yavin Four Consultants, DNV UK Ltd, IHCantabria and Julia F. Chozas Consulting Engineer.

The contract is a strong third-party validation of CETO’s technical and commercial potential and strongly aligns with the Company’s strategic objectives.