Carnegie To Explore Marine Energy Potential

Australian renewables developer Carnegie Wave Energy has agreed a deal with the Irish Government to explore potential sites for marine energy installations around the country's coastline.

Carnegie's Irish subsidiary, CETO Wave Energy Ireland, signed a formal funding agreement for the €150,000 (£125,000) project at the end of last week, which will see the costs split 50/50 between the company and the government's Sustainable Energy Association (SEAI).

CETO will aim to determine sites where it can locate its ocean floor-based devices, which consist of a series of submerged buoys.

Waves move the buoys, driving a set of pumps which in turn push water along a pipeline to the shore. The pressurised water then drives turbines to generate electricity or can be used to supply reverse osmosis desalination plants, replacing fossil fuel-powered pumps.

Ultimately, CETO aims to design a 5MW commercial technology demonstration project similar to the wave energy plant it is currently building in Australia and has already commissioned studies for the project from Ireland-based engineering specialists RPS Consulting Engineers.

A feed-in tariff of €220 per MWh and a government goal of producing 500MW of wave and tidal energy by 2020 have made Irish marine energy developments increasingly attractive to investors.

A report commissioned by the SEAI and published this week found that a "fully developed" Irish ocean energy sector meeting its 2020 targets could be worth about €9 billion (£7.5bn), creating up to 52,000 jobs in wave energy and 17,000 posts in the tidal energy sector across Northern Ireland and the Republic.


Related Irish News Stories
Click here for the latest headlines.

16 January 2008
Government Makes Waves In Renewable Energy Sector
Andrew Parish, CEO of Wavebob Ltd, Ireland’s leading wave-energy development company, has hailed the Ocean Energy Initiative launched by Irish Energy Minister Eamon Ryan as the Government's most progressive step to date in wave energy development in Ireland.
06 July 2018
An Garda Síochána Saves Over €9m In Energy Costs
An Garda Síochána has saved more than €9 million in energy costs after becoming the first police force in the world to achieve the globally recognised international energy management standard (ISO 50001).
14 December 2011
Record Wave Off Ireland - More Information Breaks
A record wave has been spotted off the coat of Ireland as the Atlantic storm continues its pass over the British Isles. The record 20.4 metre wave was recorded by a Met Eireann weather buoy at 2pm on Tuesday December 14 and was a maximum individual wave height.
13 March 2024
How Much Gambling Takes Place in Ireland?
When we think of Ireland, we may think of many things ranging from lush green landscapes to Guinness and Irish dancing, but it may be surprising to learn that the country has a passion for gambling.
15 April 2019
IEA Publish Review Of Ireland's Energy Policies
A review of Ireland's Energy Policies that acknowledges significant change and progress in recent years has today been published by the International Energy Agency (IEA). The study revealed that Ireland now has the third highest share of wind generated electricity among all 30 countries in the IEA.