Great to see different renewable technologies beginning to commercialise in the UK. We have some of the best natural resources in the world for renewable energy and have the potential to be a world leader in new renewable technologies. A mix of different technologies will be key in decarbonising our energy infrastructure. This scheme will be the first to be linked commercially to national grid.
This also highlights the diverse range of benefits that we currently enjoy as members of the EU. Funding for these new innovative projects is crucial for developing new technologies and if we are no longer part of the EU, we need to find alternative sources of investment.
An Australian company has won EU backing for a £60m project to build the first commercial wave energy project connected to the electricity grid in England. Carnegie Wave Energy will receive £9.6m of EU regional development funds for a project at Hayle on the north coast of Cornwall that is among the most ambitious attempts yet to harness the power of ocean swells to produce clean energy. The project shows how Britain is continuing to receive EU regional development funds — intended to “strengthen economic and social cohesion” across the EU — even after its vote to leave the bloc.