Convergence Investments

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1.6.2009

Wave Hub Construction Costs (South West Regional Development Agency)

The Wave Hub is a groundbreaking renewable energy project that aims to create the world’s first large scale wave energy farm by constructing an electrical ‘socket’ on the seabed off Hayle, on the Cornwall coast.

It will provide a demonstrator facility that allows developers of wave energy devices to test arrays of wave energy devices and, in so doing, generate 20MW of ‘green’ energy.  The Wave Hub will enable the UK to offer a comprehensive route to commercialisation of wave energy devices, and ensure Cornwall and South West England are well positioned to capture a position as world leader in wave energy.

Wave Hub Construction Costs is part of a total Wave Hub investment of £42m from the UK Government (£9.5m), ERDF Convergence (£20m) and the South West RDA (£12.5m). The Convergence Programme’s investment in wave energy also includes Wave Hub Development Costs, details of which can be found here.

The South West's marine energy industry is supported by the £15 million Peninsula Research Institute for Marine Renewable Energy (PRIMaRE), set up two years ago by the Universities of Exeter and Plymouth with support from the South West RDA and European Union. It offers academic expertise at the cutting edge of the industry and a technology transfer team that works with businesses to support high quality job creation. More information about the Convergence investment in PRIMaRE can be found here.

"This is about a new industry and new jobs, and the South West's critical role in building a greener global economy."Stephen Peacock, Enterprise and Innovation Executive Director, South West RDA

Related media releases:

31.01.11 Wave Hub welcomes marine energy park pledge
03.11.10 Wave Hub Plugged in and ready for business
07.09.10 Wave energy impacts
 

Related links:

Video: Wave Hub installation
Video:Wave Hub, How it Works
PRIMaRE
Wave Hub
Wave Hub SWRDA
Wave Hub Development Costs