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Hayle Marine Business Park secures multi-million pound funding

Millions of pounds of funding has been announced today for the development of a marine renewables business park (MRBP) in Hayle, which will provide 2,500sqm of industrial and office based accommodation that could create 120 new jobs by 2020.

This development underlines Cornwall’s commitment to its diverse marine renewable ocean resource, world class supply chain, innovation and industry growth.

This additional funding for Hayle follows the development of North Quay and represents a total package of investment of £24m from the European Regional Development Fund (ERDF), Cornwall Council, Department for Business Innovation & Skills (BIS) and Department for Energy & Climate Change (DECC) in the area. Hayle is already the home of Wave Hub, the world’s largest marine renewables test site connected to the grid, and the addition of the marine renewables park will further strengthen Cornwall’s capability to support this growing sector. 

It is a real achievement to have secured this significant investment to make the Hayle Marine Renewable Business Park become a reality. Working with the supply chain to identify the requirements of the industry has ensured we are creating something that is needed and going to help develop the industry.

Chris Pomfret, Chair of the LEP and Deputy Chair of the Convergence Local Management Committee

The new facility is designed to accommodate companies at the vanguard of future marine renewables energy production and will be a collaborative partnership between local and national government, the Local Enterprise Partnership, technology developers and industry. The bespoke business park development, which is project managed by Cornwall Development Company, will include more than 2,500 square metres of managed workspace including flexible workshops and modern office accommodation. It will also be fibre enabled, ensuring superfast broadband capability for the businesses on site. As the site was historically the location of a coal fired power station, this cutting edge development represents the next generation in energy production.

Cornwall is the natural home to marine renewables and the development of this site will help further strengthen our ability to deliver cutting edge technology in the sector. Cornwall is already able to offer access to world leading research institutions and facilities and the marine renewables park will further support businesses in this ever evolving sector.

Julian German, the Council’s Cabinet Member for Economy and Culture

The business park will provide the gateway to the Wave Hub site, which is situated just 10 miles off the coast of Hayle. It will be suitable for all companies involved in the development, deployment, servicing and maintenance of wave and floating wind power devices as well as new and existing supply chain businesses supporting this sector.

The Hayle MRBP and Wave Hub are vital elements of the Offshore Renewables Development Programme, a wider programme of work that aims to enable and accelerate the commercial realisation of offshore renewable energy within Cornwall, the Isles of Scilly and Plymouth from initial concept, through development and testing to launching the product in the marketplace.

We are delighted to have further commitment to the development of Hayle. The Marine Renewables Park will support the Wave Hub initiative, further secure Hayle’s place as a centre for the development of marine energy and most importantly provide employment.

Local Cornwall Councillors, John Coombe and John Pollard