Western Australian Government will invest $12.5 million in a new wave energy power station, to be built by support for Carnegie Corporation, drawing power from waves washing up on the Albany coast in Western Australia's Great Southern region.

Western Australia's largest peak body for enterprises across the sustainable energy sector has welcomed the announcement of a Low Emissions Energy Development Fund grant to Carnegie Corporation to support new renewable energy projects in Western Australia.

The Environment Minister Donna Faragher and Energy Minister Peter Collier have today announced the Western Australian Government will invest $12.5 million in a new wave energy power station drawing power from waves washing up on the Albany coast.

"The LEED funding from the Barnett Government comes on top of support for Carnegie Corporation previously announced by Synergy for Carnegie's wave energy projects established through a Memorandum of Understanding with Carnegie Corporation, is an example of the kind of business backing needed to get renewable energy projects delivering emissions-free energy to Western Australians," says Dr Ray Wills, Chief Executive of WA SEA.

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

"With the majority of Australia's 20 million residents living close to the coast, beaches are an important part of life, and funding to support projects to make use of ocean based energy sources makes a great deal of sense."

"Given 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.

"The slowdown in the economy is also an opportunity - an ideal time to chart a new course - one that helps decarbonise the economy and supports nation-building infrastructure projects in the sustainable energy sector to create employment in new, sustainable projects across Australia. Removing barriers to market entry, providing incentives for private sector for innovative investment in Western Australia's energy network is the key to security of WA's energy supplies," says Dr Wills.

WA Sustainable Energy Association Inc. (WA SEA) Media Release - 20 February 2009

Media Contact:
Dr Ray Wills 0430 365 607

Editors notes:
1. WA Government media release - http://www.mediastatements.wa.gov.au/Pages/WACabinetMinistersSearch.aspx?ItemId=131355&minister=Collier&admin=Barnett
2. Carnegie Corporation media release - http://www.carnegiecorp.com.au/
3. The Western Australian Sustainable Energy Association Inc. (WA SEA) is a chamber of businesses that are providing the commercial solution to climate change through their products and services, or that simply aspire to be more sustainable in their own energy use. WA SEA is supported by a growing membership of more than 215 industry members that includes the majority of the key energy players in Western Australia. www.wasea.com.au.