The $46m CETO 6 project, which can deliver energy at approximately half the cost of CETO 5, marks the next generation of Carnegie’s landmark wave technology.

The $11m grant, received from the Australian Renewable Energy Agency’s (ARENA) Emerging Renewables Program, is additional to Clean Energy’s $20m loan facility for the project.

ARENA CEO Ivor Frischknecht said "CETO 6 also allows for offshore power generation, which could enable additional applications for the technology operating further from shore, in deep water."

To be developed at Garden Island, the project will generate power which will be transferred to the Australian Department of Defence for use at HMAS Stirling, Australia’s largest naval base which is located on Garden Island, under Carnegie’s existing power supply agreement.

Carnegie Managing Director and Chief Executive officer Dr Michael Ottaviano said, "This grant funding represents a crucial element of the CETO 6 Project and we are delighted to have achieved this outcome at this time."

The CETO 6 project comprises three CETO 6 units deployed off the coast of Garden Island and will be connected to the Western Australian electricity grid.

The CETO 6 unit in the Project has a target power capacity of 1MW (1000kW) while significantly reducing power costs.