Carnegie Wave Energy Limited, April 8, 2011
Carnegie Wave Energy Limited and its Bermudan based developer Triton Renewable Energy Limited (Triton) are pleased to announce the successful deployment and commissioning of a wave monitoring buoy off the south shore of Bermuda.
The purpose of this deployment is to gather data in order to quantify the wave energy resource in support of a potential CETO™ wave energy project in Bermuda. Such a project will be capable of producing electricity as well as desalinated water from an untapped and abundant renewable energy resource. The wave buoy will be moored for a minimum period of 12 months. The wave data collected will be shared with the Bermudian public, through the partnership with BAS-Serco’s Bermuda Weather Service.
Carnegie’s Site Development Manager Tim Sawyer said, “Deployment of Carnegie’s wave monitoring buoy off Bermuda, through the partnership of Carnegie, Triton and BAS-Serco, is critical to determining the local wave resource and is a key step in assessing the feasibility for, and design of, a commercial scale CETO™ wave energy plant off Bermuda”.
Triton’s Managing Director Tim Hasselbring said, “This is an exciting step forward for a project that stands to be of great benefit to Bermuda. Obtaining this data is essential to the project, since up until now there has been no direct measurement of the wave resource in Bermuda.”
Carnegie and Triton have previously signed a Memorandum of Understanding (‘MOU’) to develop a commercial CETO™ wave energy project. Project pre-feasibility and environmental studies have subsequently been completed.
The project has also been selected by the Bermuda Electric Light Company Ltd (‘BELCO’) as a preferred renewable energy project in February 2009 following submission of a Statement of Intent for an initial 2MW demonstration project followed by expansion to the 20MW installation. BELCO is Bermuda’s sole supplier of electricity, operating a generating plant and transmission and distribution systems throughout the Island. The power tariff on Bermuda is in excess of US40c/kWh.