State Government invests $12.5million in wave power
Source: Western Australia. Ministers for Energy and Environment. Media Release
"The State Government will invest $12.5million in a new low-emissions power station off the coast of Albany to generate electricity by harnessing the power of the ocean. Environment Minister Donna Faragher and Energy Minister Peter Collier said the funding from the Low Emissions Energy Development (LEED) fund would enable Perth-based Carnegie Corporation to develop the first two stages of a 50MW power station by 2013. This would include the commissioning of a five mega-watt facility. The funding is subject to the company matching every $1 of Government funds with $3 from elsewhere, which will lead to a direct total investment of $50million in low-emissions electricity generation in Western Australia,” Mrs Faragher said. "