Cornwall Council Cabinet agreed this morning to try and sell the Wave Hub at Hayle in 2021 but if a buyer cannot be found the operation will be closed down.

The preferred option is to sell the site and help convert it into a floating wind farm.

In April 2019 Cornwall Council entered into a two-year commissioning agreement with Wave Hub Limited to manage and operate the Wave Hub.

A four year Business Plan was presented to cabinet today with several options to consider in terms of the direction of travel. The preferred option is to sell Wave Hub during 2020-21.

Wave Hub comprises of a mix of assets including the ownership of Wave Hub Limited, the Wave Hub device and associated property. The proposed disposal would include the sale of the Hayle offshore and onshore assets, allowing the purchaser ‘to acquire a consented offshore site with significant in-place onshore infrastructure’.

On the basis that a sale is completed, the proceeds will then be reinvested in renewable energy, with a focus on the offshore wind market, like the recently announced £150m offshore wind plans.

The current Wave Hub is a grid connected site located off the coast of Hayle. It was originally conceived for the testing and development of wave energy devices and arrays. It was funded through European Structural Funds and central government funding and became operational in 2010.