Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
In August 2021, Hexicon — through its UK subsidiary TwinHub Limited — completed the acquisition of Wave Hub Limited's assets from Cornwall Council for GBP 2.4 million, securing site rights for the TwinHub floating offshore wind demonstrator. The acquired assets included a 25-year seabed lease option from The Crown Estate, a consent over 8 km² of seabed approximately 16 km off Hayle in Cornwall (water depths 51-57 m), a 30 MW grid connection with Western Power Distribution (expandable to 40 MW), four inter-array cables, and an onshore substation. The deal — first announced in May 2021 — repurposed the site (originally consented in 2007 for wave energy testing) into the UK's first floating offshore wind demonstrator in the Celtic Sea. Hexicon subsequently divested its stake in TwinHub Limited in 2026.