Carnegie Clean Energy Ltd (CWGYF)

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Carnegie Wave Energy says it has signed an agreement to develop wave energy projects in Chile and Peru.



The company has signed a collaboration agreement with Fundacion Chile to identify development pathways for commercial wave energy projects, capable of producing electrical power and desalinated water in the two countries.



Additionally, Carnegie is now a partner with the organisation in the Valparaiso Regional Government's Innovation Fund of Competiveness, which is aimed at developing marine energy in the Valparaiso region which includes Easter and Robinson Crusoe islands.



The areas defined for collaboration with Fundacion Chile include the assessment of wave resources at various sites, the regulatory environment, site identification and development and project financing and construction.



Carnegie recently put the finishing touches on its Perth Wave Energy Project off Garden Island near Rockingham.



The company's CETO technology converts wave energy into electric power via a series of submerged buoys which move in harmony with the ocean's waves.



The technology, which uses high pressured water to drive hydroelectric turbines, can also be used to desalinate ocean water via a process of reverse osmosis.