Lanka Energy Conservation is an associate company of Australian outfit Perth Eco Power.
As part of the MoU, the team will identify opportunities and develop pathways for commercial wave energy plants on Sri Lanka.
The collaboration will also focus on potential microgrid opportunities which would allows integration of CETO wave farms into the existing or new power infrastructure to supply clean power and freshwater.
Carnegie COO Greg Allen said: “Carnegie has made significant progress in our entry into the small island markets this year.”
Allen noted that the MoU is expected to provide services to explore ways to integrate CETO along with microgrid solutions, allowing for high penetration of renewable energy.
Earlier, Carnegie has deployed and commissioned a wave monitoring buoy to assess the feasibility of installing its CETO device Mauritius.
Allen added: “Island nations are assessing clean, cost effective, alternative energy solutions to remove their reliance on electricity generated using imported fossil fuels.
“These imported fossil fuels come at a high cost, do not provide energy security and have a significant environmental footprint. Carnegie presents an effective clean energy alternative that can provide a solution for island and fringe of grid communities globally.”
Recently, Australia Government’s Australian Renewable Energy Agency (ARENA) granted $2.5m in funding to Carnegie to develop world-first Garden Island Microgrid project.
The project integrates wave energy, solar and battery storage to independently power Garden Island off the coast of Perth, Western Australia.
Lanka Energy Conservation chairman and managing director Dammica Wickramaratne said: “Sri Lanka shows good potential for wave, solar and wind energy power. Our population of 23m is currently powered predominately by a mix of coal, diesel and hydropower with less than only 5% being powered by wind and solar.
“Sri Lanka is also a signatory to the Paris Agreement for Sustainable Energy development.”
