Cornwall’s digital future receives a substantial boost from Wildanet.
The internet provider has secured £35 million to enhance connectivity in rural areas, promising up to 20,000 households and businesses significantly quicker access. The funding, sourced from the UK Infrastructure Bank, will support this ambitious expansion, which is integral to Project Gigabit.
Wildanet has announced the acquisition of a £35 million funding package aimed at extending high-speed broadband across Cornwall. This investment is backed by the UK Infrastructure Bank and forms part of the broader Project Gigabit initiative. The rollout is expected to reach an additional 20,000 homes and businesses, vastly improving internet connectivity in the region.
In conjunction with the bank’s financial support, Wildanet has secured a revolving credit facility with Santander. This was structured with assistance from Deloitte, highlighting a robust financial strategy to implement the project effectively.
Helen Wylde-Archibald, the chief executive of Wildanet, emphasised the transformative potential of this funding. She stated, “Today’s announcement supports and accelerates our far-reaching roll-out plans for Cornwall.”
Earlier this year, Wildanet was awarded a £41 million contract to connect over 16,800 properties in East and West Cornwall, including the Isles of Scilly.
This follows a 2023 announcement of two contracts valued at £36 million, which aim to connect up to 19,250 homes and businesses in South West and Mid-Cornwall.
These contracts underscore the ongoing commitment to boosting digital connectivity in some of the UK’s most remote and underserved areas.
Cornwall’s geography poses significant challenges to digital infrastructure development. Many areas have internet speeds below the national average, complicating the delivery of modern digital services.
The investment by the UK Infrastructure Bank is pivotal in overcoming these hurdles, enabling communities to access the benefits of improved connectivity.
Wildanet has been backed by Gresham House, a specialist asset manager, since 2020. According to Stevie Ingamells, associate director at Gresham House, this support is aimed at addressing digital exclusion in underserved regions.
Work is underway to establish connections in remote communities, with Mullion and Lanivet being among the first to experience the new service. This indicates significant progress towards achieving full digital inclusion in these areas.
Improved broadband access is expected to stimulate economic development across Cornwall. Enhanced digital infrastructure will provide new opportunities for businesses and residents alike.
The initiative not only promises growth for Wildanet but also underpins regional economic development. As Wylde-Archibald states, the project aims to create a dynamic, profitable, and sustainable business environment.
The rollout in Cornwall marks a significant step toward realising the UK government’s digital strategy goals.
As connectivity improves, there will be a myriad of opportunities for local businesses to thrive and for residents to engage more fully with digital technologies.
The £35 million investment into Wildanet’s project marks a significant stride towards solving rural connectivity issues in Cornwall.
As Wildanet expands its reach, both businesses and communities stand to gain substantially from enhanced internet access.
