Carnegie Clean Energy Clears Spanish Regulatory Hurdle for First CETO European Deployment
Carnegie receives €63,688 EuropeWave milestone payment as CETO European deployment clears key regulatory stage
Carnegie Clean Energy (ASX: CCE) has announced that its wholly owned subsidiary, CETO Wave Energy Ireland, has received a milestone payment of €63,688 (approximately $103k AUD) under the EuropeWave Phase 3 contract. The payment follows approval of two specific deliverables tied to the ACHIEVE Programme, which is working towards the first deployment of CETO technology in Europe at the Biscay Marine Energy Platform (BiMEP) site in Spain. This is a regulatory and technical stage gate cleared, not simply a cash receipt.
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What triggered the payment — two deliverables approved
EuropeWave released the milestone payment following formal approval of two deliverables:
- Authorisation for deployment of the CETO device at BiMEP from the relevant Spanish National Energy and Coastal Authorities (the competent authority for Energy due to grid connection, and the competent authority for Coastal Affairs due to seabed occupation).
- Completion of control software for the upcoming back-to-back PTO testing.
While BiMEP already holds general authorisation as a test site from both Coastal and Industry/Energy Authorities of the Spanish Government, the installation of any wave energy conversion prototype requires specific notification to these two authorities. This distinction is material. The approval process is a meaningful regulatory hurdle, not a formality, and the ACHIEVE team worked closely with BiMEP to secure these authorisations.
The receipt of both approvals has been described as an important regulatory stage gate for the ACHIEVE Programme.
| Deliverable | Authority | Jurisdiction | Status |
|---|---|---|---|
| Authorisation for deployment of CETO device at BiMEP | Competent authority for Energy (grid connection) and Competent authority for Coastal Affairs (seabed occupation) | Spanish National Government | Approved |
| Completion of control software for back-to-back PTO testing | EuropeWave Buyers Group | EuropeWave Programme | Completed |
Understanding the EuropeWave programme and what it means for CETO
EuropeWave is an innovative research and development programme for wave energy technology, running from 2022 to 2026. It operates as a Pre-Commercial Procurement (PCP) programme, a structured model that shares risk between the public sector and technology developers rather than placing the full burden on either party alone.
Key programme facts include:
- Combined funding of over €22.5 million from national, regional, and EU sources
- Match-funded under the EU’s Horizon 2020 programme (grant agreement No 883751)
- A collaboration between Wave Energy Scotland (WES), the Basque Energy Agency (EVE), and Ocean Energy Europe (OEE)
- Aligned with European Commission targets of 100MW of ocean energy by 2027 and at least 1GW by 2030
The PCP model was originally pioneered by Wave Energy Scotland and is designed to foster collaboration and risk-sharing between public bodies and developers. For Carnegie Clean Energy, this structure provides a funded pathway to demonstrate CETO technology under real ocean conditions.
From an investor standpoint, milestone payments like this one convert verified technical and regulatory progress into received cash. Each payment reflects a programme gate cleared, reducing delivery risk incrementally as the deployment moves forward.
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What comes next for CETO and Carnegie’s commercialisation pathway
The BiMEP deployment represents a key step on CETO’s commercialisation pathway, as described by Carnegie in its programme documentation. Once operating at the open ocean site, the CETO unit will generate performance data that can be used to validate the technology and advance it further along that pathway.
The ACHIEVE Programme benefits from a layered funding structure that extends beyond EuropeWave. Additional support includes:
- The RENMARINAS DEMOS Programme, established by Spain’s Ministry for Ecological Transition and the Demographic Challenge and managed by IDAE (Instituto para la Diversificación y Ahorro de la Energía), funded through the European Union’s NextGenerationEU Recovery, Transformation and Resilience Plan
- A grant from the Ente Vasco de la Energía (EVE), the Basque Country’s public energy agency, under its grants programme for the demonstration and validation of emerging marine renewable energy technologies
Both of Carnegie’s subsidiaries are active in the programme. CETO Wave Energy Ireland holds the EuropeWave contract, while Carnegie Technologies Spain is involved through the RENMARINAS DEMOS and EVE-funded components.
Carnegie Clean Energy describes itself as a technology developer focused on delivering ocean energy technologies through its CETO and MoorPower platforms. The European deployment milestone positions CETO for continued validation in a commercially relevant, well-funded, and regulatory-supported environment.
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