Plymouth City Council and Cornwall Council have teamed up to commission work to develop the South West Marine Energy Park, which aims to bring together business and research and attract investment to support businesses move from cutting-edge research to profit in a new industry worth over £70 billion to the UK economy by 2050.
The announcement paves the way for a collaboration that will create the most extensive clustering of activities of its type in the world.
Over the past seven years more than £100 million has been invested in the marine energy industry in the south west, creating world leading research and demonstration facilities.
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This investment has supported the development of the largest consented area for marine technologies in the world at Cornwall’s Wave Hub, the Fab–Test nursery site at Falmouth, globally–leading research facilities at Plymouth and Exeter universities and the National Composites Centre at Bristol.
The new South West Marine Energy Park (SWMEP)will combine the area's vast expertise by creating a partnership between local and national government, Local Enterprise Partnerships, technology developers, academia and the industry, creating a critical mass for attracting investment and accelerating the commercial development of the industry.
The two councils commissioned Regen SW to work up the park concept.
Energy Minister Greg Barker is today launching the prospectus setting out how the public and private sector will work with the Government and other key national bodies such as the Crown Estate to create the Marine Energy Park during a meeting with south west business leaders and councillors from Cornwall, Plymouth and Bristol. He said this was a exciting milestone which would secure the South West region a place in renewables history.
The project also has the support of the Cornwall and Isles of Scilly Local Enterprise Partnership and the Heart of the South West LEP.
(CD/GK)
