Australian Wave Energy Developer Carnegie Corporation Limited (ASX: CNM) has announced the signing of a License Agreement with the Government of South Australia to investigate a suitable site for the development of a wave energy power project. The License Area covers approximately 17,000 ha of seabed adjacent to Port MacDonnell near Mt Gambier in the State’s South-East. A wave project developed at this site has the ability to be connected into the National Electricity Market which supplies power to the majority of Australians.
Carnegie Corporation’s Managing Director Dr Michael Ottaviano said; “We are delighted to have secured a further option for the location of our commercial demonstration project in addition to our Western Australian sites. The South Australian
coast receives a world class wave energy resource and further adds to South Australia’s leadership in developing renewable energy including wind, solar and geothermal.”
The License Term is for 3 years with a further 3 year right of renewal and allows the Minister for Energy to grant a life of project lease at any time during the license period. The license area covers an area of seabed extending from just west of Douglas Point to Danger Point and extending out 3 nautical miles.