Carnegie Clean Energy Limited Secures CETO Deployment Contract in Europe

Carnegie Clean Energy Ltd (ASX: CCE) announced that its wholly owned subsidiary, CETO Wave Energy Ireland (CWEI), has secured a prestigious €3,746,531 contract as a vital participant in the highly competitive EuropeWave Pre-Commercial Procurement (PCP) program. Under this Phase 3 EuropeWave contract, subject to finalization, CWEI is entrusted with the responsibility of constructing and operating a state-of-the-art CETO wave energy converter in a significant European wave energy testing site. Impressing independent expert evaluators, CWEI's proposal claimed the top spot across various critical categories, including levelized cost of energy (LCOE), generation performance, reliability, and survivability. In recognition of CWEI's excellence, it has been allocated this substantial contract amount.

This pioneering CETO technology will be deployed at the Biscay Marine Energy Platform in Spain's Basque Country, promising to supply power to the grid. Carnegie is proud to align with the ambitions of the EU-funded EuropeWave Programme, which mirrors its own objectives for large-scale CETO deployment. Notably, this achievement contributes to the EU's broader vision of attaining 1GW of ocean energy deployment by 2030 and an impressive 40GW by 2050 through the EU Offshore Renewable Energy Strategy.

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