The UK government has given approval to build the first large scale wave farm on the planet. This highly ambitious method to generate renewable energy will take place off the coast of Cornwall in Southwest England.
Expected cost of the project will run over $56 million but is said to have the potential to create 1,800 jobs and save the UK over $1.1 billion over the next 25 years.
Developed by the Southwest of England Regional Development Agency (RDA), the Wave Hub could generate enough electricity to power 7,500 homes and save 300,000 tons of carbon dioxide in 25 years.
The project will cover an area of sea about four kilometers by two kilometers, with the water at the deployment site approximately 50 meters deep. About 30 wave energy devices are expected to be deployed and operational by 2009.