ocean energy

Cornish marine energy business park secures multi-million pound funding

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A £24 million investment package has been announced for the development of a marine renewables business park in Hayle, Cornwall, which could provide 120 new jobs by 2020.
Cornish marine energy business park secures multi-million pound funding

The project is due to begin in June 2014 and will further strengthen Cornwall’s international marine renewables capability as well as also benefitting the wider South West of England region. It will see the development of 2,500 square metres of industrial and office-based accommodation and could create 120 new jobs.

The investment has been secured from a range of sources including the European Regional Development Fund (ERDF), Cornwall Council, Department for Business Innovation & Skills (BIS) and Department for Energy & Climate Change (DECC). Hayle is already the home of Wave Hub, the world’s largest marine renewables test site.

“It is a real achievement to have secured this significant investment to make the Hayle Marine Renewable Business Park (HMRBP) become a reality” said Chris Pomfret, Chair of the Local Enterprise Partnership (LEP) and Deputy Chair of the Convergence Local Management Committee which steers the ERDF Convergence programme. “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 will accommodate companies working at the forefront of marine renewable energy generation. It will be a collaborative partnership between local and national government, the LEP, technology developers and industry and will be project managed by Cornwall Development Company. It will also be fibre enabled thereby ensuring superfast broadband capability for the businesses on site.

“Cornwall is already able to offer access to world leading research institutions and facilities and the marine renewables park will further support businesses in this ever evolving sector” added Julian German, the Council’s Cabinet Member for Economy and Culture.

The business park is intended to act as the gateway to the Wave Hub site, just 10 miles off the coast. 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. The business park and the Wave Hub are vital elements of the Offshore Renewables Development Programme, a wider programme of work that aims to enable and accelerate the commercial realisation of offshore renewable energy within Cornwall, the Isles of Scilly and Plymouth from initial concept, through development and testing to launching the product in the marketplace.

For additional information:

European Regional Development Fund (ERDF)

Cornwall Development Company

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