The world's largest wave farm planned off the UK coast has secured sufficient funding for the project to go ahead as early as next year, subject to planning permission.

A £21.5m regional development agency grant means the £28m Wave Hub project could soon be producing enough energy to power 7,500 homes.

Wave Hub will be sited 10 miles off St Ives on the Cornish coast and will test up to 40 prototype wave energy machines designed to harness the power of the sea.