Ownership of Wave Hub is to be formally transferred to Cornwall Council, it has been confirmed.

The Council announced today (Nov 8) that it has concluded negotiations with the Department for Business, Energy and Industrial Strategy (BEIS) on the transfer of Wave Hub, based in Hayle, as part of a package of investment designed to put Cornwall at the heart of the emerging marine renewables sector.

Julian German, the Council’s cabinet member for economy and culture, said: “In Hayle, Cornwall Council has invested in infrastructure alongside the EU and UK Government.

“Wave Hub provides a fully grid-connected wave energy site located approximately ten miles off the north coast of Cornwall and, together with the Marine Renewables Business Park in Hayle, offers an exceptional opportunity to attract international inward investment to Cornwall and support local device developers and the supply chain.

“This announcement builds on Cornwall’s maritime and engineering heritage and I am delighted that Cornwall Council is playing a leading role in supporting the low carbon economy.”

“The Council has championed the benefits of a low carbon economy for the residents of Cornwall.  We have taken forward many actions, including creating the most comprehensive electric vehicle charging network in rural Europe and ensuring the creation of the National Solar Centre as well as co-financing investment in superfast broadband.

“In the Cornwall Deal, alongside the UK Government, we have prioritised low carbon energy initiatives and have continued our focus on household energy efficiency at the same time as improving our public transport network. These actions will ensure a growing number of well paid jobs for Cornish residents, together with better health and connectivity. All this whilst, importantly, helping to reduce carbon equivalent emissions.”

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.

“Cornwall is open for business and, as the new owners of Wave Hub, Cornwall Council will be creating the right environment for the sector to grow and flourish,” added German.

“Our vision is that Cornwall will be a global centre 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.”

The announcement was made at the annual Ocean Energy Europe Conference today in Brussels and follows previous Council investments in both the development of the quays in Hayle and the building of the Hayle Marine Renewables Park.