Hexicon completes acquisition of Wave Hub Ltd
Published by Bella Weetch,
Editorial Assistant
Energy Global,
Hexicon, a leading technology and project developer in floating wind farms, has completed its acquisition of the Wave Hub renewable energy test site in Cornwall, South West England, paving the way for Hexicon’s first deployment of its Twinwind floating foundation technology in UK waters by 2025.
The deal, first announced in May 2021, sees Hexicon through its UK subsidiary, TwinHub Limited (TwinHub), acquire the existing assets of Wave Hub Limited from local authority, Cornwall Council, including a 30 MW grid-connection (expandable to 40 MW); a four-way seabed hub 16 km offshore and four inter array cables; an onshore sub-station and related land; a consent over 8 km2 of sea, and a 25-year seabed lease option from The Crown Estate.
TwinHub intends to develop the site for a 30 - 40 MW floating offshore wind project and deploy its innovative twin-turbine floating foundation. The UK is a world-leader in offshore wind and the project will bolster the Government’s target for 40 GW of offshore wind energy by 2030, including at least 1 GW of floating wind power. Hexicon has partnered with Bechtel, a global leader in engineering, construction, and project management to deliver the scheme.
Hexicon was advised by Green Giraffe, Eversheds Sutherland and PKF Francis Clark.
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global's Summer 2021 issue
The Summer issue of Energy Global features a varied spectrum of in-depth technical articles detailing recent projects, future projections, and technological advancements in the renewables sector, from companies including CEWEP, Enel Green Power, Turboden S.p.A., Cornwall Insight, and more.
Read the article online at: https://www.energyglobal.com/other-renewables/02082021/hexicon-completes-acquisition-of-wave-hub-ltd/
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