US firm in £21m Wave Hub funding hope

A US firm could get £25m to develop a floating wind turbine off the Cornwall coast.

Glosten has been given £4m by the Energy Technologies Institute (ETI), funded by the government and UK energy firms, to draw up plans.

If they are approved by the ETI, Glosten will get £21m to build a turbine at the Wave Hub off Hayle.

The £42m Wave Hub, unused since it was installed in 2010, is an electric "socket" for testing energy machines.

Glosten's six megawatt (MW) turbine could be in place at the Wave Hub by 2015, said the ETI.

It said marine construction firms, Cornwall-based LDD and Devon-based Keynvor Morlift (KML) would carry out studies for Glosten on installing the turbine.

An ETI spokesman said 50% of the project's funding would come from the government.

Wave Hub managing director Claire Gibson said she was "delighted" that KML and LDD were involved and Glosten said it was a "privilege" to be working with the firms.

Andrew Scott, programme manager for offshore wind at ETI, said: "It's not straightforward, it's extremely challenging and difficult technology.

"But our studies show that floating offshore winds has a real potential to deliver energy at prices comparable with other forms of low carbon generation."

A wave energy machine from Irish firm Ocean Energy is due to be installed at the Wave Hub later this year.