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Carnegie completes power plant

Flood ballast tanks, part of Carnegie Wave Energy's Perth project.

Carnegie Wave Energy says it has completed the onshore power plant for its Perth wind energy project.

The company said the plant at HMAS Stirling on Garden Island south of Perth was now ready to be connected to the power grid, pending Western Power approval.

Carnegie said it had received a $54,444 milestone payment from the State Government under its Low Emissions Energy Development grant and had also submitted a milestone payment claim worth $316,785 to the Federal Government under its Australian Renewable Energy Agency (ARENA) Emerging Renewables Program.

The company's project aims to convert wave energy into zero-emission electricity and desalinated water using submerged buoys connected to an onshore power plant.

Shares in Carnegie were up 0.2 cents, or 3.57 per cent, to 5.8 cents at 11am.