Under the accord, Carnegie will assess the potential for commercial wave energy plants capable of producing electrical power and desalinated water in Chile and Peru.
Carnegie and Fundación Chile will collaborate in areas including assessment of wave resources at various sites, the regulatory environment, site identification and development and project financing and construction.
Carnegie business development manager Edoardo Sommacal said: "Fundación Chile is a key player in the development of the renewable energy and innovation in South America and this collaboration will speed the development of the wave energy sector in Chile.
"Wave energy has the potential to be an additional solution to reduce greenhouse gas emissions in the production of both power and water in Chile, a country with a world class wave resource."
Carnegie has also teamed up with Fundación Chile in the Valparaiso Regional Government’s Innovation Fund of Competiveness (FIC), which intends to develop marine energy in the Valparaiso Region which includes Easter and Robinson Crusoe Islands.
Fundación Chile Renewable head Juan Ramon Candia said: "At FCH we are constantly searching for innovative solutions in order to face the main challenges for our region.
"The agreement we have signed with Carnegie represents a great opportunity for our organisations to collaborate towards making wave energy a reality in this part of the globe."
