Carnegie Expanding Renewables in Sri Lanka through MOU
Leading wave energy developer, Carnegie Wave Energy Limited (ASX: CWE), is expanding its commercial wave and microgrid projects into Sri Lanka through the signing of a Memorandum of Understanding (MOU) in Colombo today, with the Lanka Energy Conservation (Pvt) Ltd.
The agreement focusses on identifying the opportunities and development pathways for commercial wave energy plants on Sri Lanka, as well as potential microgrid opportunities that would enable CETO wave farms to be integrated into the existing or new power infrastructure to supply clean power and freshwater.
Carnegie’s Chief Operating Officer Greg Allen said:
“Carnegie has made significant progress in our entry into the small island markets this year. The signing of this MOU provides us with another opportunity to provide services to explore the possibility of incorporating CETO, along with microgrid solutions, to enable high penetration of renewable energy, displacing imported diesel.
Chairman and Managing Director of Lanka Energy Conservation (Pvt) Ltd, Mr Dammica Wickramaratne commented:
“Sri Lanka shows good potential for wave, solar and wind energy power. Our population of 23 million is currently powered predominately by a mix of coal, diesel and hydropower with less than only 5% being powered by wind and solar. Sri Lanka is also a signatory to the Paris Agreement for Sustainable Energy development.”
Chairman
Carnegie’s Chief Operating Officer Greg Allen noted that:
“Island nations are assessing clean, cost effective, alternative energy solutions to remove their reliance on electricity generated using imported fossil fuels. These imported fossil fuels come at a high cost, do not provide energy security and have a significant environmental footprint. Carnegie presents an effective clean energy alternative that can provide a solution for island and fringe of grid communities globally.”
The MOU was announced today by Carnegie’s Greg Allen, and by Lanka Energy Conservation’s (Pvt) Ltd, Mr Dammica Wickramaratne in Colombo, Sri Lanka.
This announcement follows a similar pathway adopted by the Government of Mauritius, resulting in the recent successful deployment of a wave monitoring buoy off the coast of Mauritius by Carnegie, as part of a series of work packages that will identify the opportunities and a design for CETO and microgrid solutions on the islands of Mauritius and Rodrigues, currently being delivered by Carnegie.
It also follows the Australia Government’s ARENA (Australian Renewable Energy Agency) commitment of $2.5m in funding to Carnegie’s world-first Garden Island Microgrid Project announced earlier this week.
