Foundation installation vessel Fugro Endeavour, onsite at Garden Island.
Foundation installation vessel Fugro Endeavour, onsite at Garden Island.

Carnegie Wave Energy says it expects to complete work on the subsea foundation installation for the Perth Wave Energy Project in the coming weeks.

The company said the first two pile foundations were installed and installation of the third and final pile were underway.

Once completed, the project, off Garden Island south of Perth, will use wave energy to provide clean, renewable power and potable desalinated water to Australia's largest naval base, HMAS Stirling.

Carnegie shares were off 0.2 cents, or 4 per cent, to 4.8 cents at 9am.

The West Australian

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