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  1. #1
    LeeTV's Avatar
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    Post CWE - Carnegie Wave Energy

    Formerly CNM - Carnegie Corporation
    Old CNM thread here.

    Wave power station deal signed
    Source: 7pm TV News WA
    Published: Monday, December 7, 2009 8:50
    Expires: Sunday, March 7, 2010 8:50

    West Australian company Carnegie Wave Energy has signed a deal with the State Government to build Australia's first commercial scale wave power station, off Garden Island.

    ASX/Media Announcement
    7 December 2009
    Licence for Perth wave energy site signed
    • Carnegie & WA Government sign wave energy license
    • Allows the installation of commercial scale CETO unit off Garden Island
    • This will be the first commercial scale wave power unit deployed in Australia

    Wave energy developer Carnegie Wave Energy Limited (ASX: CWE) is pleased to advise that it has executed a deed of licence with the State of Western Australian Government for access to a designated area of seabed in waters to the west of Garden Island off Perth, Western Australia.

    Carnegie has been working with the Department of Regional Development and Lands (DRDL) who manage Crown Land in Western Australia, along with other State Government Departments, to process Carnegie’s license application over recent months. Execution of the licence provides Carnegie with permission, subject to specific covenants, to install and operate a commercial scale, autonomous CETO wave energy device to verify its energy delivery performance for a period of up to 3 years.

    The activities to be undertaken under the licence form part of Carnegie’s 5MW commercial demonstration project supported by $12.5m of State Government Low Emissions Energy Development (LEED) funding.

    Activities in the licence area are well progressed. Deployment of the first commercial scale, autonomous CETO wave energy unit will begin shortly with the installation of the unit’s mooring system. This will be the first commercial scale wave energy unit to be deployed in Australia.

    About CETO:
    The CETO system distinguishes itself from other wave energy devices by operating out of sight and being anchored to the ocean floor. An array of submerged buoys is tethered to seabed pump units. The buoys move in harmony with the motion of the passing waves, driving the pumps which in turn pressurise water that is delivered ashore via a pipeline.
    High-pressure water is used to drive hydroelectric turbines, generating zero-emission electricity. The high-pressure water can also be used to supply a reverse osmosis desalination plant, replacing greenhouse gas emitting electrically driven pumps usually required for such plants.

    CETO Technology characteristics include:
    • CETO converts wave energy into zero-emission electricity
    • CETO is environmentally friendly, has no visual impact and attracts marine life
    • CETO is fully submerged in deep water away from popular surf breaks



    About Carnegie:
    Carnegie Wave Energy Limited is an Australian, ASX-listed (CWE) wave energy and clean technology developer. Carnegie is the owner and developer of the CETO Wave Energy Technology intellectual property.

  2. #2

    Default Re: CWE - Carnegie Wave Energy

    Quote Originally Posted by LeeTV View Post
    Formerly CNM - Carnegie Corporation
    Old CNM thread here.

    Wave power station deal signed
    Source: 7pm TV News WA
    Published: Monday, December 7, 2009 8:50
    Expires: Sunday, March 7, 2010 8:50

    West Australian company Carnegie Wave Energy has signed a deal with the State Government to build Australia's first commercial scale wave power station, off Garden Island.

    ASX/Media Announcement
    7 December 2009
    Licence for Perth wave energy site signed
    • Carnegie & WA Government sign wave energy license
    • Allows the installation of commercial scale CETO unit off Garden Island
    • This will be the first commercial scale wave power unit deployed in Australia

    Wave energy developer Carnegie Wave Energy Limited (ASX: CWE) is pleased to advise that it has executed a deed of licence with the State of Western Australian Government for access to a designated area of seabed in waters to the west of Garden Island off Perth, Western Australia.

    Carnegie has been working with the Department of Regional Development and Lands (DRDL) who manage Crown Land in Western Australia, along with other State Government Departments, to process Carnegie’s license application over recent months. Execution of the licence provides Carnegie with permission, subject to specific covenants, to install and operate a commercial scale, autonomous CETO wave energy device to verify its energy delivery performance for a period of up to 3 years.

    The activities to be undertaken under the licence form part of Carnegie’s 5MW commercial demonstration project supported by $12.5m of State Government Low Emissions Energy Development (LEED) funding.

    Activities in the licence area are well progressed. Deployment of the first commercial scale, autonomous CETO wave energy unit will begin shortly with the installation of the unit’s mooring system. This will be the first commercial scale wave energy unit to be deployed in Australia.

    About CETO:
    The CETO system distinguishes itself from other wave energy devices by operating out of sight and being anchored to the ocean floor. An array of submerged buoys is tethered to seabed pump units. The buoys move in harmony with the motion of the passing waves, driving the pumps which in turn pressurise water that is delivered ashore via a pipeline.
    High-pressure water is used to drive hydroelectric turbines, generating zero-emission electricity. The high-pressure water can also be used to supply a reverse osmosis desalination plant, replacing greenhouse gas emitting electrically driven pumps usually required for such plants.

    CETO Technology characteristics include:
    • CETO converts wave energy into zero-emission electricity
    • CETO is environmentally friendly, has no visual impact and attracts marine life
    • CETO is fully submerged in deep water away from popular surf breaks



    About Carnegie:
    Carnegie Wave Energy Limited is an Australian, ASX-listed (CWE) wave energy and clean technology developer. Carnegie is the owner and developer of the CETO Wave Energy Technology intellectual property.
    Hi Leetv,

    Mate not a bad company but a bit of a risky share to hold imo. Held the stock around the .22c mark awhile ago and as soon as news came out of not getting a gov grant the shares fell to now around .135c . Good to see them going forward now and correct me if i am wrong but the 100% exclusive rights to the CETO tech is still in the pipeline !!!!!

  3. #3

    Default Re: CWE - Carnegie Wave Energy

    Quote Originally Posted by Bigukraine View Post
    Hi Leetv,

    correct me if i am wrong but the 100% exclusive rights to the CETO tech is still in the pipeline !!!!!
    Yes they hope to achieve that in the first half of next year.

    I love the desalination aspect of this technology and jumped on when everyone jumped off.

    Share purchase plan began this week, inviting new money to come on board at 12.5c

    Good luck to holders

  4. #4

    Post Re: CWE - Carnegie Wave Energy

    Quote Originally Posted by Bigukraine View Post
    Hi Leetv,

    Mate not a bad company but a bit of a risky share to hold imo. Held the stock around the .22c mark awhile ago and as soon as news came out of not getting a gov grant the shares fell to now around .135c . Good to see them going forward now and correct me if i am wrong but the 100% exclusive rights to the CETO tech is still in the pipeline !!!!!
    Hi Bigukraine. All speccys are risky that's the nature of the game but with risk also come reward. The fall in sp due to them not getting the grant via the Renewable Energy Development Program was unjustified. Fundamentals have not changed and the fall was a knee jerk reaction imo. I bought in post REDP rejection luckily enough but have been watching this stock for quite sometime with interest as I live close by to the testing facility in Fremantle and Garden Island is right on my door step.

    It looks like the spp won't get much interest at 12.5c due to the current sp sitting at these levels wondering if they can/will change it?

    There's an article in the Australian this morning:

    Carbon-friendly energy stocks ride global warming wave
    Tim Boreham, Criterion From: The Australian December 09, 2009 12:00AM

  5. #5

    Post Re: CWE - Carnegie Wave Energy

    Well I for one am excited to see this technology being built on my door step. Hoping for a swift and trouble free deployment and of course success in the project. The world is watching

    West ready for clean energy's new wave
    The Australian, 9th December 2009
    Construction of Australia's first commercial-scale wave energy farm will start within weeks after the West Australian government signed an audacious plan to power thousands of Perth homes from the ocean.

    Criterion
    The Australian, 9th December 2009
    Having secured a crucial government lease permit this week (and a jack-up rig from the North-West Shelf), Carnegie is about to build a 5 megawatt demonstration plant off Garden Island.

  6. #6

    Post Re: CWE - Carnegie Wave Energy

    Carnegie ready to deliver
    Olga Galacho From: Herald Sun January 08, 2010 12:54PM

    CARNEGIE Wave Energy is on track to begin generating electricity next year, the listed ocean energy developer said yesterday after revealing it had received the first tranche of a grant from the Western Australian Government.
    In November, the company was overlooked, along with three other Australian ocean energy companies, for Federal Government grants in favour of an American developer, Ocean Power Technologies.

    At the time energy analysts criticised the choice given that a foreign-owned company would be receiving Australian taxpayers' money and it had partnered with Leighton Contractors, which was not acknowledged as an experienced deep sea energy engineering company.

    But Carnegie chief executive Michael Ottaviano told BusinessDaily yesterday that while he was disappointed at having missed out on the Renewable Energy Demonstration Program, he wished OPT well.

    "I sincerely hope this US company delivers because it is important for the sector as a whole to prove ocean technologies are viable for creating electricity," Mr Ottaviano said.

    In 2002, OPT abandoned an installation at Portland when part of the structure snapped as it was being assembled.

    The $66.5 million that OPT will receive in federal funds will also go to a project in Portland.

    Carnegie's state government grant is worth $12.5 million and the company has a pilot plant operating off Fremantle.

    It has already begun drilling the moorings for its new 5MW plant near Perth, west of Garden Island, which will use the unique CETO technology.

    CETO differs from other ocean energy systems by being anchored out of sight and using submerged buoys attached to pumps to drive water under high pressure through a pipe to shore where it powers a turbine.

    "By the time OPT get their plant up and running, we will have delivered Garden Island and moved on to other parts of the world," Mr Ottaviano said.

    "We will continue to look at sites in Australia, but the reality is power prices here are too low to support a large project."

    He said that in Europe, it was easier to find backers for ocean projects because electricity tariffs were greater.

    "We have been working with one of the world's largest energy companies, EDF, in countries where power prices are so high we won't need a grant."

    Last month, Carnegie announced a licensing deal with French giant EDF Energies Nouvelles.

    Carnegie shares eased 1 to 15 yesterday.

  7. #7

    Post Re: CWE - Carnegie Wave Energy

    SA wave energy project still on stream
    RUSSELL EMMERSON
    January 11, 2010 11:30pm


    CARNEGIE Corporation's proposed $400 million wave-energy project at Port MacDonnell near Mt Gambier has not lost ground as a result of receiving funds for its West Australian project, the company says.

    Carnegie received the first tranche of a $12.5 million grant from the WA Government last week for its Garden Island project.

    The grant will be used to support the building of a large commercial prototype for its CETO technology, which uses the movement of buoys anchored on the ocean floor to drive onshore turbines.

    Chief operating officer Greg Allen said the advancement of the WA project did not kill interest in its South Australian plans.

    "The plan has always been based around delivering the West Australian project first, so it hasn't changed,'' he said.

    "We are in the process of negotiating a specialist to undertake project feasibility work at the site as part of an environmental constraints review. That will then feed into the design side of the project to start looking at the scope and the detailed costings.''

    The State Government leased a 17,000ha stretch of seabed to the company for an initial three-year period in February last year to allow it to test the appropriateness of the site for a wave-energy project.

    Carnegie has a further three-year option over the site and may be granted a project lease at any time it agrees to proceed.

  8. #8

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    Default Re: CWE - Carnegie Wave Energy

    Thanks for keeping up the news flow on CWE , Lee TV.

    I have a few of these ,myself.

    "CARNEGIE Wave Energy is on track to begin generating electricity next year, the listed ocean energy developer said yesterday after revealing it had received the first tranche of a grant from the Western Australian Government.
    In November, the company was overlooked, along with three other Australian ocean energy companies, for Federal Government grants in favour of an American developer, Ocean Power Technologies."

    Damn shame the Federal gov.has not put it's grant money behind an Aus company.Just another nail in the coffin for Local Entrepreneurs...However ,they are on track with Garden Island.More power to them

  9. #9

    Default Re: CWE - Carnegie Wave Energy

    The focus of this company is great, im all for supporting companies that are green and personally can't see why we cant live in a renewable energy world (aside from the obvious dollar signs).

    Im interested however in how they stack up economically? They pretty much state that it is uneconomical to operate within australia without govt grants. This seems worrying.

    The garden island plant is meant to primarily prove the technology in the real world but it's secondary function is to provide an income. I am interested in trying to acertain the ROI for the plant.

    Ignoring the startup costs of the company and the risk involved with something not going right, what is the cost of establishing the plant?

    They also state the govt grant has to be matched $1 for every $3 grant, does this imply that the cost of the plant is to be ~$15 million?

    The plant is to provide power for 3500 households, if in fact the plant does cost $15 million I cant see how it is in fact going to make a profit?

    Perhaps ive missed something, perhaps I dont have a clue as I have only briefly looked into it but at the end of the day it doesnt matter how brilliant the technology they have is, if it isnt finacially viable it's dead in the water.
    The greatest trick the devil ever played was convincing mankind he does not exist.

  10. #10

    Default Re: CWE - Carnegie Wave Energy

    The full scale project is to prove further the viability of the Ceto Technology as a more or less finnished product. The real money comes in the future commissions for other countries like France where energy comes at a much higher price.

    This is just another step in the process, it is not the end.

  11. #11

    Default Re: CWE - Carnegie Wave Energy

    A relative of mine who keeps in close contact to the boys at cwe contacted me the other day to explain the recent depression of the share price. He told me that a big shareholder has gone bankrupt and the litigators have been selling off cwe whenever they can. He believes that once the litigators have finished the sale then the price can go back to more accurate market values.

    All this is nice to hear and all, but I'm really in it on a technical basis. 10c holds significant long term support for cwe, and I think i will double my holding this week if the price remains depressed.

    After all, shouldn't we all have at least one green play in our commodity portfolio.

  12. #12
    The Contrarian Averager So_Cynical's Avatar
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    Default Re: CWE - Carnegie Wave Energy

    Quote Originally Posted by Tukker View Post
    After all, shouldn't we all have at least one green play in our commodity portfolio.
    Your right...and that play at today's prices should probably be GDY.

    Well seriously it should probably be a toss up between these 2 and maybe DYE thrown in for good measure....all showing great entry's at the moment.
    Statistics: 172 Closed Trades since July 07, Trades: Winners 135 - Losers 37, Expectancy/$1 Risked: $0.78

  13. #13

    Default Re: CWE - Carnegie Wave Energy

    Quote Originally Posted by Tukker View Post
    A relative of mine who keeps in close contact to the boys at cwe contacted me the other day to explain the recent depression of the share price. He told me that a big shareholder has gone bankrupt and the litigators have been selling off cwe whenever they can. He believes that once the litigators have finished the sale then the price can go back to more accurate market values.
    Oh yeah, this is a true story, I heard it from a friend of a friend of mine whose sister is married to the butcher who sold CWE’s CEO his lamb chops for Australia day this year. So it must be true.

    Tukker, I’m glad you at least qualified that one by saying ‘he believes’.

  14. #14

    Default Re: CWE - Carnegie Wave Energy

    Quote Originally Posted by Ozymandias View Post
    Oh yeah, this is a true story, I heard it from a friend of a friend of mine whose sister is married to the butcher who sold CWE’s CEO his lamb chops for Australia day this year. So it must be true.

    Tukker, I’m glad you at least qualified that one by saying ‘he believes’.
    At least you recognized my intention to not make it sound like an empirical statement.

    I will put my money where my mouth is.

  15. #15

    Default Re: CWE - Carnegie Wave Energy

    Carnegie wins award for its Perth Wave Energy Project


    Yeay, but ummmmmmm,

    CAN WE GET THE FEDERAL GRANT INSTEAD?

    Holding support at and around 10c, people are throwing about 20k at this a day, its pretty consistent buying and selling.

  16. #16

    Default Re: CWE - Carnegie Wave Energy

    Quote Originally Posted by So_Cynical View Post
    Your right...and that play at today's prices should probably be GDY.

    Well seriously it should probably be a toss up between these 2 and maybe DYE thrown in for good measure....all showing great entry's at the moment.
    Seriously with a chart like this?? consistent down trends, no consolidation cycle, no significant increases in volume.

    Not exactly screaming BUY ME!


  17. #17

    Default Re: CWE - Carnegie Wave Energy

    Came across this website the other day, proposes some of the same thoughts i had on the Ceto technology

    http://bravenewclimate.com/2010/04/11/tcase9/

    Writer seems to really have a go at the profitability of Carnegie generating electricity for the grid. On the flip side is very supportive of the water desalination aspect.

    Here are some paragraphs.

    ...wave power is certainly among the most attractive of the range of possible renewable energy technologies. Unfortunately, it is also one of the most nascent in its development cycle (along with engineered geothermal systems, which is probably even further behind

    ...From the technical data (table 3.7), you can work out that if the 50 MW unit was dedicated just to desalination, it could output ~90 GL/year. Actually, at 11 l/sec average output, each unit would produce 350 ML of fresh water per year (on average), and a 300-unit field’s output would be 104 GL/year. So, a figure of 90 to 105 GL/year seems for a 50 MW plant seems to be right, if the technical report is to be believed.

    The 100 GL/year Port Stanvac RO desalination plant in Adelaide will cost $1.83 billion in capital costs, and then has to pay for its electricity. A direct-cost scaling-up of the 5 MW CETO plant to 50 MW, which is anticipated to produce ~100 GL/year (see above), is $500 million (a slightly lower figure is cited here), with no electricity costs (or greenhouse gas emissions). Am I missing something here??
    Reached a technical low of 10.5 cents very briefly last week and has bounced a bit between the 11 and 12 cent range for a bit. I'm still seeing these lvls as buying opportunities.

  18. #18

    Default Re: CWE - Carnegie Wave Energy

    Took a beating the last couple of days.

    Been doing some reading into the desalination plants due for completion in Australia in 2011.

    "Alan Carpenter announced that the second seawater desalination project will be Western Australia’s next major water source." - http://www.projectconnect.com.au/Pro...ls.asp?PID=357

    Built on Taranto Road, north of Binningup, the new desalination plant will provide 50 gigalitres of water a year into the integrated water supply system from November 2010, with potential to increase to 100 gigalitres.

    Report claims the plant will cost an EST $955 Million to complete. That is significantly more than what Carnegie expects to build theirs for.

    Median rate in WA is around $1/kl (http://www.watercorporation.com.au/A..._metro_res.cfm). If annual production of 90-100GL/year is to be believed, then its not too hard to imagine the company making some sort of profit eventually.

    Competitively, if the price of energy climbs, Carnegie does better.

    Food for thought at least.

    0.092 looks oversold to me.

  19. #19

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    Default Re: CWE - Carnegie Wave Energy

    Thanks for keeping the flow going with this thread ,Tukker

    I have a few of these.Definitely seems to be out of favour at the moment.Perhaps the budget allocation of funds to assist green technology will help Carnegie in the coming months ,regardless of the progress of their projects.

  20. #20

    Post Re: CWE - Carnegie Wave Energy

    AUSTRALIA'S BIGGEST EVER RENEWABLE ENERGY ROLL-OUT
    11 May 2010

    The Australian Government will commit a further $652.5 million over four years to establish a Renewable Energy Future Fund to support Australia's response to climate change.

    The Fund will provide additional support:

    •for the development and deployment of large and small scale renewable energy projects, for example further investments in geothermal, solar and wave energy; and
    •to enhance take-up of industrial, commercial and residential energy efficiency, helping Australian businesses and households reduce their energy consumption.
    The Fund will include partnerships between the Government and the private sector to make critical early stage investments to leverage private funds to support the commercialisation of renewable technologies.

    This Fund will form part of the Government's expanded $5.1 billion Clean Energy Initiative, which includes the $2 billion Carbon Capture and Storage Flagships Program and the $1.5 billion Solar Flagships Program announced in last year's budget.

    It will also complement the existing support provided through the Government's expanded Renewable Energy Target of 20 per cent by 2020.

    This additional funding brings the Government's total investments in renewable and clean energy and energy efficiency to over $10 billion.

    The Renewable Energy Future Fund will be delivered through a number of departments and agencies, with the Department of Climate Change and Energy Efficiency coordinating Fund priorities and progress.

    Details of the specific commitments under the Fund will be announced shortly.

    All funding resulting from the deferral of the Carbon Pollution Reduction Scheme, as well as some existing departmental funding from within the Climate Change and Energy Efficiency portfolio, will be used to offset the cost of this Fund.

    Today the Government is also announcing decisions to invest a further $110.5 million from existing renewable energy programs in the following projects:

    Australian Centre for Renewable Energy funding for solar projects under the Renewable Energy Demonstration Program

    •$32 million for CS Energy to build a 23MW1 solar boost to coal-fired turbines at Kogan Creek, near Chinchilla in western Queensland; and
    •$60 million for N.P. Power Pty Ltd (Whyalla Solar Oasis consortium) to build a 40MW concentrated solar thermal demonstration plant at Whyalla, South Australia, using Australia's own "Big Dish" technology.
    Australian Solar Institute (research into advanced solar energy technologies)

    •$5.0 million for a project run by the University of New South Wales to overcome the performance limitations of commercial solar cells;
    •$2.25 million for a project run by BT Imaging Pty Ltd to improve the performance of photovoltaic manufacturing;
    •$4.95 million for an Australian National University led applied research project in collaboration with industry to help develop the next generation of solar cells;
    •$2.25 million for a project run by Sapphicon Semiconductor Pty Ltd to develop a high-efficiency, integrated solar module on a transparent substrate; and
    •$4.0 million for a project run by CSIRO and the Australian National University to develop advanced solar thermal energy storage technologies.
    $1.5 billion Solar Flagships Program

    Eight projects have been shortlisted under round one of the Solar Flagships Program.

    The shortlisted projects announced below will now share up to $15 million in feasibility funding.

    •Solar photovoltaic
    ◦AGL Energy proposes a multi-site project using thin film cadmium telluride solar photovoltaic technology generating up to150MW at multiple sites across Australia including ACT, NSW, Victoria, Queensland, and South Australia;
    ◦TRUenergy proposes a single site near Mildura, using thin film cadmium telluride solar photovoltaic technology to generate up to 180MW;
    ◦Infigen/Suntech's crystalline silicon solar photovoltaic technology would be deployed at up to three sites in New South Wales or Victoria to generate up to 195MW; and
    ◦BPSolar proposes a single axis tracking photovoltaic system to generate 150MW from plants constructed at several locations in New South Wales.
    •Solar thermal
    ◦ACCIONA Energy Oceania proposes to generate 200MW using solar thermal parabolic trough technology at a single site in either Queensland or South Australia;
    ◦Parsons Brinckerhoff proposes to construct a 150MW solar thermal parabolic trough power station at Kogan Creek in Queensland;
    ◦Wind Prospect CWP proposes to use linear fresnel technology at Kogan Creek in Queensland to construct a 250MW power plant; and
    ◦Transfield proposes to convert the Collinsville coal-fired power station in Queensland into a 150MW solar thermal linear fresnel power plant.
    The Government intends to announce the two final successful applicants - one solar thermal and one solar photovoltaic - for Round One of the Solar Flagships Program in the first half of 2011.

    In addition, the Government is announcing the appointment of the Board of the Australian Centre for Renewable Energy (ACRE) as follows:

    •Chair - Professor Mary O'Kane. Professor O'Kane is the NSW Chief Scientist and Scientific Engineer;
    •Dr Bruce Godfrey, Chair of the Australian Solar Institute Research Advisory Committee and a member of the AusIndustry Climate Ready Committee;
    •Mr Steve MacDonald, CEO of Transfield Services Infrastructure Fund and a member of the Clean Energy Council Board;
    •Ms Amanda Heyworth, CEO of the Playford Capital technology seed fund;
    •Dr Brian Spalding, a Commissioner of the Australian Energy Market Commission;
    •Dr Beverley Ronalds, Group Executive, Energy, at the Commonwealth Scientific and Research Organisation (CSIRO) and a member of the Board of Innovation Australia; and
    •Mr Richard Bolt, Secretary of the Victorian Government Department of Primary Industries.
    ACRE was legislated in March 2010 to be the Australian Government's central agency for renewable energy technology research, development and demonstration programs.

    Boost for Geothermal Energy Exploration

    In a huge boost for geothermal energy exploration, the Government's new tax plan announced on 2nd May includes a new resource exploration rebate (RER), within the company income tax system, from 1 July 2011.

    For a company in a tax loss position that spends $1 million on exploration, the RER will provide an immediate cash benefit of $300,000.

    Australia's World-Class Renewable Energy Resources

    Australia has one of the best renewable energy resource bases in the world - in geothermal, wind, solar, ocean and bioenergy.

    For the first time, ABARE and Geoscience Australia have mapped and compiled a comprehensive assessment of the nation's rich energy resource endowment, including both renewables and non-renewables.

    The recently published Australian Energy Resource Assessment is now available for download, free of charge, at www.ga.gov.au and colour printed copies can be purchased from Geoscience Australia.

    Support for International Renewable Energy and Energy Efficiency Initiatives

    Australia is also participating in international efforts to accelerate the development and deployment of both renewable energy and energy efficiency technologies to support the global response to climate change.

    Australia joined the International Renewable Energy Agency (IRENA) in June 2009 and has committed $5.6 million over 4 years to support this forum.

    Today in Washington, Australia will also become a full member of the International Partnership for Energy Efficiency Cooperation (IPEEC), an initiative of the G8 Energy Ministers' meeting in May 2009.

    The Australian Government is contributing $150,000 per annum to this forum.

    Membership of IPEEC will offer a flexible international forum for Australia to engage exclusively on energy efficiency initiatives as part of the global climate change response.



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