Installation of the company's 1MW OE Buoy wave energy converter (WEC), which has so far cost some €9m ($11.7m) to develop, would be the first machine in the water at the four-berth facility off Cornwall.

Following trials of a quarter-scale version of the device, Ocean Energy is now in talks with local fabricators to build the flagship, 650-tonne WEC, which is expected to be operated remotely from the recently refurbished North Quay in Hayle harbour.

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