The future of the Wave Hub marine energy project off the Hayle coast has today been confirmed by the Government.
The Department for Business Innovation and Skills (BIS) will take over ownership of the asset from the South West RDA on January 1.
To manage the day-to-day operation of the testing facility on its behalf, BIS has set up a stand-alone operating company, Wave Hub Limited, which will be based in Hayle. This arrangement will allow the project to build on the operational plans already put in place by RDA.
BIS and the RDA have been discussing the Wave Hub’s future since closure of the RDA was confirmed by the Government last summer.
Business minister Mark Prisk said “As part of the transition to a green economy the Government is committed to developing clean energy sources including marine. Development of the Wave Hub in Cornwall will bring both environmental and economic benefits to the UK and I am pleased that we are able to take this positive step today.”
Claire Gibson, who has been confirmed as Wave Hub’s permanent general manager having acted in an interim capacity since May, added: “This is good news for Wave Hub, for Cornwall and the south west and for the future of wave energy development across the UK.
“It secures Wave Hub’s status as a publicly-owned asset, ensures it will continue to be locally run, and reinforces the pivotal role of Wave Hub and Cornwall to the development of a commercial marine energy industry in the UK.”