• Carnegie’s ACHIEVE project has successfully passed the Authorisation to Proceed (ATP)
milestone in its EuropeWave contract
• The ATP represents a significant stage gate, with the EuropeWave Buyers Group reviewing
technical and commercial deliverables. Successful milestone completion now unlocks
significant procurement activities
• The €3.75m EuropeWave ACHIEVE contract supports the deployment of a CETO wave energy
converter in waters of the Basque Country in Spain as part of the ACHIEVE Programme
• CETO will be deployed and deliver power to the grid at the Biscay Marine Energy Platform
Carnegie Clean Energy Ltd is pleased to share that its wholly owned subsidiary,
CETO Wave Energy Ireland (CWEI), has successfully passed the EuropeWave Authorisation to Proceed
(ATP) milestone as part of its EuropeWave ACHIEVE Contract.
As part of the ATP milestone, CWEI submitted detailed documents covering financial, technical, safety,
regulatory, and testing aspects. These have been reviewed by the EuropeWave Buyers Group to
determine whether it was ready to proceed to the next stage of contract delivery and marks another
successful step towards the deployment of CETO at BiMEP as part of the ACHIEVE Programme.
The successful achievement of the ATP milestone marks the start of a transition over the coming
months from planning and design into procurement. With the EuropeWave Authorisation to Proceed
granted, the team will begin awarding contracts for the fabrication and procurement of long lead
items. Passing the ATP milestone also unlocks a EuropeWave milestone payment of approximately
€168k ($276k AUD) which can now be invoiced.
Miguel Santos Herrán, the ACHIEVE Project Manager said “Passing the Authorisation to Proceed
milestone of the EuropeWave contract is a testament to the team’s hard work and vision for the
ACHIEVE Programme, which will be a key strategic step in CETO’s commercialisation journey. For us, this is an exciting green light. We keep taking important steps towards being grid connected and
generating renewable electricity from waves in the Basque Country.”
Carnegie Clean Energy CEO, Jonathan Fievez added that “We’re grateful to EuropeWave and our
Spanish and Basque funders for their critical support for the CETO technology and our mission to bring
wave energy to the world. This is an exciting time for our people and the partners that have supported
us along the way and a great opportunity for strategic partners who would like to join us on the
journey.”
This announcement has been authorised by the Chairman and CEO.
