An independent report commissioned by wave energy developer Carnegie Corporation that found at least 35% of Australia's current base-load power needs could be economically generated has been welcomed by the Western Australian Sustainable Energy Association Inc. (WA SEA).

"Australia is the Middle East of renewable energy and we are failing to harvest the energy bonanza for the benefit of the Australian economy," says Dr Ray Wills, Chief Executive of WA SEA.

"Renewable energy will continue to shine on us, to blow past us, and to wash up on our shores all without additional cost," says Dr Wills.

"And with the majority of Australia's 20 million residents living close to the coast, beaches are an important part of life, and the report released by Carnegie Managing Director Dr Michael Ottaviano today shows the coast could play an even more important role in being the source of power to our homes and businesses."

"This is particularly important with around 20% of Australians living in coastal areas outside capital cities, and with the rate of population growth in these areas estimated to be 50% higher than the national average, harvesting wave energy provides an opportunity to deliver energy to growth areas that will not add to Australia's greenhouse gas emissions," says Dr Wills.

"Ramping up use of Australia's massive renewable energy resources will create new opportunities for business and employment, diversify and grow Australia's industry base, and create a more robust environment for business and a more sustainable economy," says Dr Wills.

WA Sustainable Energy Association Inc. (WA SEA) Media Release - 29 September 2008

Media Contact:
Dr Ray Wills 0430 365 607

Editors notes:
1. Carnegie Corporation (ASX: CNM) website - http://www.carnegiecorp.com.au/
2. The Western Australian Sustainable Energy Association Inc. (WA SEA) is a chamber of businesses variously promoting, developing and/or adopting sustainable energy technologies and services that minimise the use of energy through sustainable energy practices and maximise the use of energy from sustainable sources. WA SEA is supported by a growing membership of 190 industry members from a diversity of businesses. www.wasea.com.au.