Wave power pioneer Carnegie Clean Energy enters administration – RenewEconomy

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Embattled renewables developer Carnegie Clean Energy has gone into voluntary administration, the ASX-listed company announcing on Friday that it had appointed KordaMentha Restructuring to oversee the business and its fully owned subsidiary, Energy Made Clean.

The administrators are in discussions with key stakeholders to secure funding to allow the company to continue to trade whilst the administrators pursue a recapitalisation, a statement on the companys ASX website said.

A further update in respect of the funding arrangements and potential recapitalisation proposal will be released to the market in the coming days.

The not entirely unexpected development comes just days after the the Western Australian government terminated a $16 milli…

Read the full article at: https://reneweconomy.com.au/wave-power-pioneer-carnegie-clean-energy-enters-administration-30431/

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