Two Australian microgrid companies, Carnegie Wave Energy and Energy Made Clean (EMC), have joined forces to develop solar, wave, wind and energy storage projects both at home and internationally.
The companies plan to develop energy projects on islands, off-grid and in grid-connected communities.
Carnegie will invest $3 million in cash and $1.5 million in shares to take a 35 percent stake in EMC. The deal gives Carnegie the ability to accelerate commercialization of its CETO wave technology in island markets. Carnegie converts wave energy into electricity and desalinated water. Its technology is distinguished by its ability to operate underwater, which helps protect equipment during storms.
“The global microgrid market is estimated to be worth US $40 billion by 2020, up tenfold from 2013,” said Michael Ottaviano, Carnegie’s chief executive. “EMC itself is experiencing rapid growth and is likely to exceed $15 million in turnover this financial year, up from $5 million in 2014/15.”
In November, Carnegie won $21 million in private financing from Commonwealth Bank of Australia. The deal marked the first time an Australian company has secured private financing for wave energy.
Carnegie’s recent projects include design of a microgrid powered desalination plant on the Mauritian island of Rodrigues. The project is funded in part through an $800,000 grant from the Australian and Mauritian governments.
“Our strategy for island markets is to deliver CETO as part of an integrated microgrid solution,” Ottaviano said. “Having already won and kicked off a package of work in Mauritius, including the delivery of a wave-integrated microgrid, I’m delighted to have EMC on board to assist in the delivery of this project.”
Examples of recent and current EMC projects include:
- Solar, battery and diesel microgrid project with remote monitoring on Mackerel Island off the coast of Onslow in Western Australia
- Engineering, procurement and construction of a 1.6 MW solar plus 2.4 MWh battery array for the CSIRO’s Australian Square Kilometer Array Pathfinder
- Construction of a 600 kW solar farm on Rottnest Island, Western Australia
- Delivery of a 1.1 MWh battery for Western Australian power retailer Synergy in Alkimos Beach
- Development and delivery of a 300 kW solar farm in Carnarvon, Western Australia
John Davidson, EMC managing director said the timing of the strategic alignment coincides well with EMC’s growth trajectory. “It will provide EMC with the capital we need to fast track our growth, as well as an international reach, giving further confidence to our customers who are increasingly public utility and government organisations.”
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