Ocean wave technology company Wave Hub in Cornwall, England, to be taken over by U.K. government to secure future as green energy source, effective Jan. 1, 2012

Tracy McDonald

HAYLE, Cornwall , December 20, 2011 (press release) – The offshore marine energy project in Cornwall, which allows developers to test new wave energy technology, will be taken on by the Government to secure its future as a vital part of the UK’s green energy sources.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 the 1 January 2012.

To manage the day-to-day operation of the testing facility on its behalf, BIS has set up a stand-alone operating company, Wave Hub Limited, which will be based in Hayle, Cornwall. This arrangement will allow the project to build on the operational plans already put in place by the RDA.

BIS and the RDA have been discussing the Wave Hub’s future since closure of the RDA was confirmed by the Government last summer. BIS has always recognised Wave Hub’s unique position as a nationally-important asset to develop the UK’s capacity to generate energy through the power of ocean waves.

Business Minister Mark Prisk said “As part of the transition to a green economy the Government is committed to developing clean energy sources including marine. Development of the Wave Hub in Cornwall will bring both environmental and economic benefits to the UK and I am pleased that we are able to take this positive step today.”

Claire Gibson has been confirmed as Wave Hub’s permanent General Manager having acted in an interim capacity since May. She said: “This is good news for Wave Hub, for Cornwall and the South West and for the future of wave energy development across the UK.

“It secures Wave Hub’s status as a publicly-owned asset, ensures it will continue to be locally run, and reinforces the pivotal role of Wave Hub and Cornwall to the development of a commercial marine energy industry in the UK.

“I am delighted to be leading this important project and am absolutely committed to ensuring Wave Hub is a success – supporting companies to prove their technology and delivering economic benefit for Cornwall. I look forward to welcoming our first customer at Wave Hub in the near future.”

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.