By Graham Smith Cornwall Council is finalising the sale of its Wave Hub, four years after taking ownership of it from the government. The Wave Hub, anchored off Hayle, has…
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EXCLUSIVE: Cornwall Council finalising its secret sale of the Wave Hub, refusing to say who has bought it or how much they paid
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This is all of a piece with the continual dismantling of the public patrimony since 1979. Public property is ruthlessly asset-stripped and flogged at firesale prices to Tory cronies. This will only get worse in the wake of Brexit.
Probably sold to Inox for a quid, then Cornwall Council will buy it back in a year or two paying millions.
Perhaps EDF has bought it so they can scrap it, so it does not compete with its nuclear money spinner. At this time no one would wish to have it as they can not get the power out of Kernow.
Optimism for the wave project in Cornwall ended in 2010 with the election of the Conservative government supported by the ‘sell out’ Libdems. Despite the installation of the required infrastructure nobody wanted to invest in the wave machines without initial government support proving that for Tories green power is just rhetoric and they will continue to feed £30 billions per annum into the oil industry instead.