Cash boost for Cornish marine power
Central government will invest £5m in a Cornish business park that will specialise in developing marine energy.
The marine energy business park in Hayle is expected to cost a total of £12.8m.
As well as creating around 190 jobs in an area of relatively high unemployment, the project will bring benefits to the wider community through necessary flood protection work, restoration of dilapidated harbour walls, a new bridge and a promenade leading to the site near an old power station.
It will complement the South West RDA’s £42 million Wave Hub project, which is creating the world’s largest test site for marine energy devices 10 miles off the north coast of Cornwall.
Wave Hub’s subsea electrical cable will come ashore at Hayle, where it will connect to the National Grid via a new electricity sub-station being built next to the site of the proposed business park.
Business Minister Ian Lucas said: “The UK has huge potential to lead in marine energy – not just the natural resources but the industrial and technology base and the R&D and skilled workforce.
“The grant we’re announcing today is part of the Government’s investment in the South West as a leading area for marine renewable energy.”
Claire Gibson, director of sustainable resources at the South West RDA, said: “This is another significant step in establishing the South West as a leader in marine renewables.
“With Wave Hub now under construction, the business park will be an important facility that will support the nascent marine renewables industry. We’ve worked extremely hard behind the scenes to make the case to Government for this investment so we are delighted by today’s announcement.”
The £5 million announced by Government depends on a similar investment being made by Cornwall Council and additional support from the ERDF Convergence Programme, which has a designated fund to support the creation of high quality workspace in Cornwall and the Isles of Scilly.
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