The first large-scale wave farm, set to be built 10 miles off the coast of Cornwall in South West England, is now one step closer to becoming a reality with approval of GBP 21.5 million [US$42.9 million] in funding. The investment means Wave Hub could be operational as early as summer 2008, subject to final UK Government and EU approval.

"This pioneering project is crucial for the success of wave energy development, not just in the UK but around the world. These funds represent a strong signal of intent from the South West RDA to help Britain retain its lead in this rapidly emerging, and potentially huge, clean energy industry and we look forward to welcoming the necessary consent to build, so that momentum can be maintained for UK marine renewables." -- Maria McCaffery, British Wind Energy Association,CEO