Cornwall's Wave Hub sustainable cheap energy project will go ahead as planned, organisers have announced.
The South West Regional Development Agency (RDA) confirmed that the £42 million project located off the coast of Hayle at Land's End will go ahead as planned despite a raft of budget cuts, reports BBC News.
It was originally feared that the project would not be able to survive a freeze of European funds, but the RDA stressed that the Wave Hub project was given the green light long before the budget cuts were announced.
The installation, which is believed to the world's biggest wave energy site, is scheduled to take place within the next month and start delivering power to the national grid next year.
The Wave Hub consists of a socket on the sea bed which will link wave power devices directly to the grid. The yellow steel structure will feed power from the wave energy machines to an electricity sub-station in Hayle.
According to an independent economic impact assessment, the Wave Hub could generate £560 million for the UK economy over the next 25 years and create around 1,800 jobs.
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