Marine renewables park funding

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Millions of pounds of funding has been announced today for the development of a marine renewables business park (MRBP) in Hayle.

The site will provide 2,500 sqm of industrial and office based accommodation that could create 120 new jobs by 2020.

Hayle is already the home of Wave Hub, the world’s largest marine renewables test site connected to the grid, and the addition of the marine renewables park will further strengthen Cornwall’s capability to support this growing sector.

Chris Pomfret, chair of the LEP and deputy chair of the Convergence Local Management Committee, which steers the ERDF Convergence programme, commented: “It is a real achievement to have secured this significant investment to make the Hayle Marine Renewable Business Park become a reality.

Artist's impression of the business park
Artist’s impression of the business park

“Working with the supply chain to identify the requirements of the industry has ensured we are creating something that is needed and going to help develop the industry.”

The new facility is designed to accommodate companies at the vanguard of future marine renewables energy production and will be a collaborative partnership between local and national government, the Local Enterprise Partnership, technology developers and industry.

The business park will provide the gateway to the Wave Hub site, which is situated just ten miles off the coast of Hayle. It will be suitable for all companies involved in the development, deployment, servicing and maintenance of wave and floating wind power devices as well as new and existing supply chain businesses supporting this sector.

This additional funding for Hayle follows the development of North Quay and represents a total package of investment of £2 4 million from the European Regional Development Fund (ERDF), Cornwall Council, Department for Business Innovation & Skills (BIS) and Department for Energy & Climate Change (DECC) in the area.