The UK government has allocated £5 million towards a £12.8 million project to help create a new marine energy business park in Hayle, Cornwall.
The funding has been secured by the South West RDA (Regional Development Agency). The investment is from the Departments for Business, Innovation and Skills (BIS) and Energy and Climate Change (DECC). The £5 million announced by Government depends on a similar investment being made by Cornwall Council and additional support from the ERDF Convergence Programme.
The infrastructure project includes a new bridge, construction of a new road, flood protection works and restoration of harbour walls on North Quay at Hayle, including the creation of a promenade along its length. These engineering works will enable access to the site of a proposed marine renewable business park next to the old power station behind sand dunes at Hayle Towans.
The initiative will complement the South West RDA’s £42 million Wave Hub project. The Wave Hub, a giant electrical socket on the seabed, will feed power from wave energy machines to the mainland at Hayle.
This new investment is part of a £19.5 million fund that was earmarked for investment in marine energy projects in the region when South West England was designated the UK’s first Low Carbon Economic Area last year.
South West England was designated the UK’s first Low Carbon Economic Area last year in recognition of its expertise in marine renewable energy. It included a Government investment of £20 million to support the development of marine renewables in the region. Almost half that money, £9.5 million, was earmarked for the RDA’s Wave Hub project in Cornwall.
Read more:
South West RDA: http://social.waveenergytoday.com/search/node/South+West+RDA
Wave Hub: http://social.waveenergytoday.com/search/node/Wave+Hub
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