Cornwall Council has concluded negotiations with the UK Department for Business, Energy and Industrial Strategy (BEIS) on the transfer of Wave Hub as part of a package of investment designed to put Cornwall at the heart of the emerging marine renewables sector.
The deal, agreed between UK Government and Cornwall Council, will see the transfer of Wave Hub along with £14 million of funding and the creation of a low carbon enterprise zone in the key ports of Hayle and Falmouth during 2017, the Council informed.
Julian German, the Council’s Cabinet Member for Economy and Culture, said: “Cornwall is open for business and, as the new owner of Wave Hub, Cornwall Council will be creating the right environment for the sector to grow and flourish. Our vision is that Cornwall will be a global center for research, technology development and expertise and the location of choice for businesses engaged in the development, deployment and operation of wave and floating wind technologies.”
Wave Hub Ltd, the operating company of Wave Hub and also the seabed leaseholder of two Crown Estate demonstration zones in North Devon and Pembrokeshire, has welcomed the transfer announcement.
Claire Gibson, Managing Director at Wave Hub ltd, said: “We are delighted to hear that terms have now been agreed and are excited about the future. The £14 million of funding and creation of an enterprise zone around the ports of Hayle and Falmouth will further strengthen Cornwall’s offer to the marine energy sector.”
Wave Hub, a test site located 16 km off the north coast of Cornwall, provides shared offshore infrastructure for the demonstration and proving of offshore renewable energy technologies.