Carnegie Clean Energy Limited has taken a significant step towards advancing renewable energy in Europe by initiating the development of a 6MW CETO wave energy array in the Basque Country. The company has signed a memorandum of understanding with the Biscay Marine Energy Platform, designating its facilities as the potential site for this project. The array will comprise six 1MW commercial-scale CETO units that will connect to the grid via BiMEP’s established offshore cable infrastructure. The initiative is a key milestone in the commercialisation pathway of the CETO technology, building on the deployment and operation of the ACHIEVE CETO Unit at BiMEP. With the Basque Country offering excellent wave resources, a world-class test facility, and strong support from local government and industry partners, Carnegie Clean Energy Limited is well positioned to expand its European presence. The collaboration is expected to leverage an existing knowledge base, local supply chain, and proven operational capabilities developed under the ACHIEVE Programme. Early project development activities will focus on refining the commercial array design, assessing grid connection options, and exploring various funding mechanisms and potential strategic partnerships. The Memorandum of Understanding, which is initially set for a five-year duration with each party covering its own costs, lays the groundwork for integrating Carnegie’s innovative wave energy technology within a collaborative framework that includes key stakeholders in the marine renewable energy sector. The joint venture has sparked mixed sentiments among market observers. On the bullish side, industry experts see the project as a robust step forward, supported by a strategic partnership with BiMEP, strong local backing in a region renowned for its ocean energy potential, and the scalable integration of the CETO technology. This multi-megawatt array represents a promising move towards the commercial viability of wave energy solutions, aligning with global trends towards sustainable power generation. Conversely, the bearish perspective highlights potential risks typical of nascent renewable energy projects, such as delays in grid connection permits, financing uncertainties, and the inherent technical challenges associated with ocean energy infrastructure. These factors underscore the need for continued vigilance as Carnegie Clean Energy Limited navigates the complexities of commercial deployment. Overall, the development of the 6MW CETO array in the Basque Country reflects Carnegie Clean Energy Limited’s commitment to innovative clean energy solutions and its strategic efforts to consolidate a leading position in the growing marine renewables market.