Antinuclear

by Ben PotterA pioneering wave power company says it is building its first commercial wave plant in Cornwall, England because the policy support for renewable energy there is more enticing than the climate policy chaos in Australia.

Mike Ottaviano, chief executive of ASX-listed Carnegie Wave Energy, said the company was divorcing itself from political uncertainty over renewable energy in Australia by diversifying geographically and technologically.

Carnegie Wave had received “phenomenal” development aid from ARENA, the federal government clean energy funder, Dr Ottaviano said. But that one-off backing contrasted with broader support in Britain from start-up to commercialisation.

This included state aid of about 60p for every pound spent by the company, twice the rate in Australia, a fat feed-in tariff of £310 ($515) per megawatt hour, a “Wave hub” 20 kilometres offshore from St Ives, Cornwall connected to the national grid, manufacturers skilled in making new kit for wind farms…