The government is to take ownership of the Wave Hub, an offshore marine energy project in Cornwall which allows developers to test new wave energy technology, business minister Mark Prisk announced today.
The Department for Business Innovation and Skills (BIS) will take over ownership of the Wave Hub asset from the South West Regional Development Agency (RDA) on 1 January 2012.
BIS has set up a stand-alone company, Wave Hub Limited, to manage the day to day operations, allowing it to build on operational plans already put in place by the RDA, it said. Prisk said it will bring “both environmental and economic benefits” and the government has recognised the hub as a nationally important asset to develop the UK’s capacity to develop marine power generation.
The wave hub is a grid-connection offshore “socket” 16km off the North Cornwall coast, which allows for large scale testing of technologies that generate electricity from wave power.