Ocean Power said that the deal reaffirmed its long-standing involvement with Wave Hub since it was envisioned in 2005.
Ocean Power’s commitment coincides with the South West RDA’s announcement the formal UK government go-ahead for the Wave Hub project as part of a GBP100 million investment package aimed at establishing the South West England region as the UK’s first low carbon economic area and a major global centre for the wave power industry.
Of these funds, GBP42 million has been earmarked for Wave Hub, including for the construction of offshore berths and a sub-sea cable to deliver electricity to the National Grid.
