Carnegie Wave Energy has formally launched its 15MW CETO Wave Hub Project on Friday with George Eustice, minister of state at the UK Department for Environment, Food and Rural Affairs (DEFRA), the leader and key councillors from Cornwall Council and Wave Hub.
Carnegie announced last week a GBP 9.6m (USD 12m) ERDF grant for the first phase of its Wave Hub Project.
Phase 1 of the 15MW Project consists of the design, construction, installation and operation of a single 1MW grid-connected CETO 6 wave energy converter device, adapted to local conditions and industrialized for large scale commercial deployment at the purpose built Wave Hub test site in the UK.
The Project will start immediately, with commissioning in 2018, followed by 12 months of operations, the company informed.
Phase 2, planned for 2020/21, will deliver a subsequent 15MW commercial array at the same site, offering a commercial return on investment.
Cornwall Council also announced this that it has concluded negotiations with the UK Department for Business, Energy and Industrial Strategy (BEIS) on the transfer of Wave Hub, along with GBP 14 million of funding and the creation of a low carbon Enterprise Zone in the key ports of Hayle and Falmouth during 2017.
Councillor Julian German , portfolio holder for economy and culture said: “Cornwall is open for business and, as the new owners of Wave Hub, Cornwall Council will be creating the right environment for the sector to grow and flourish.”