Description
The project is financed by the South West of England Regional Development Agency (£12.5 million), the European Regional Development Fund Convergence Programme (£20 million) and the UK government (£9.5 million).
Wave Hub could generate £76 million over 25 years for the regional economy. It would create at least 170 jobs and possibly hundreds more by creating a new wave power industry in South West England.
Wave Hub could generate 13,800 megawatt hours of electricity annually, enough for 7,500 homes, saving 24,300 tonnes of carbon dioxide every year when displacing fossil fuels. This would support South West England’s target for generating 15% of the region’s power from renewable sources by 2010.
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