http://www.abc.net.au/news/2018-12-01/how-carnegie-clean-energy-sailed-into-a-financial-storm/10571298
A couple of points;
1. How on earth can the new CEO (old CTO) of CCE not know how much energy was produced from CETO 5?
Evading this critical question or not answering that question amounts to misleading the market.
2. Why is there no contract to produce energy? According to the ABC “Yet there is no requirement in Carnegie's contract to produce any particular amount of energy”
This is a complete joke!!!
How can a power generating asset not be required to produce power???
2. Albany Wave Farm was touted as the commercial, yet the WA State Government is suggesting it’s an R&D project.
Someone is lying.
Mr Fievez, the company's former chief technology officer, said producing energy was not "the main game" at Garden Island."It's not about quantity of energy produced, because these are demonstration projects that are there to take the technology forward, so that when we are deploying at a large scale we are producing energy at the most cost-effective level," he said.
So allow me to understand this correctly, please bear with me while I wrap my head around this.
AUD60M for a project that may or may not work that doesn’t have any basic KPI’s like how much energy needs to be delivered?
Please remind me what world I am living in?
I now completely understand now why Mr Redman and Mr Nahan are scrutinising this. Ms MacTiernan handed out money with no business case or substantive information on how the project was going to be delivered or indeed what was going to be delivered.
I am clearly in the wrong business.
