Large Scale Generation Certificates Revenue
Released
Released
Announcement PDF
ASX ANNOUNCEMENT
13 June 2024
Large-Scale Generation Certificates Revenue
$117,616 in revenue has been delivered through the sale of a batch of Large-Scale
Generation Certificates (LGCs) generated by the Garden Island Microgrid.
The Garden Island Microgrid continues to provide revenue to Carnegie Clean Energy through
the sale of electricity to Department of Defence plus the sale of LGCs created from that solar
generation.
Carnegie Clean Energy (ASX: CCE) (“Carnegie” or the “Company”) is pleased to announce that it has
sold LGCs acquired through continued solar electricity generation from the Garden Island Microgrid
worth. This sale delivered $117,616 in revenue.
Solar Array at Garden Island Microgrid
Carnegie Clean Energy's Garden Island Microgrid is a 2MW solar battery energy system with potential
to incorporate wave energy in the future. The system, located on Garden Island, provides power to
Australia’s largest naval base, HMAS Stirling, under a power supply agreement with the Department
of Defence.
In addition, as a registered renewable energy power station, one LGC is created for every megawatthour (MWh) of eligible electricity generated by Garden Island Microgrid.
As the owner of the Garden Island Microgrid, Carnegie receives revenue from both the sale of
electricity to the Department of Defence and the sale of LGCs.
21 North Mole Drive, North Fremantle WA 6159 | PO Box 39, North Fremantle WA 6159
Phone: +61 8 6168 8400 | www.carnegiece.com | ABN 69 009 237 736
1
What are Large-Scale Generation Certificates:
In Australia, Large-scale Generation Certificates (LGCs) are a cornerstone of the Renewable Energy
Target (RET) scheme. Each megawatt-hour of renewable electricity generated earns an LGC for the
producer. These LGCs are sold to liable entities like electricity retailers, who are required to surrender
them to the government to meet their renewable energy obligations. This market mechanism
incentivises renewable energy investment and development.
This announcement has been authorised by the Chairman and CEO.
For more information
Carnegie Clean Energy Limited
+61 8 6168 8400
enquiries@carnegiece.com
www.carnegiece.com
ABOUT CARNEGIE
Carnegie Clean Energy (ASX: CCE) is a technology developer delivering ocean energy technologies to
make the world more sustainable. Carnegie is the owner and developer of the CETO® and
MoorPower® technologies, which capture energy from ocean waves and convert it into electricity.
Using the latest advances in artificial intelligence (AI) and electric machines, Carnegie optimally
controls our technologies and generate electricity in the most efficient way possible. The company
has a long history in ocean energy with a track record of world leading developments. Based in
Australia with a global presence, Carnegie’s wholly owned international subsidiaries including CETO
Wave Energy Ireland and Carnegie Technologies Spain are actively engaged in our product
development.
21 North Mole Drive, North Fremantle WA 6159 | PO Box 39, North Fremantle WA 6159
Phone: +61 8 6168 8400 | www.carnegiece.com | ABN 69 009 237 736
2
Share your feedback
Discover