Game-Changing Broadband Boost for Rural Cornwall: £35 Million Investment from UK Infrastructure Bank

The UK Infrastructure Bank has announced a significant £35 million investment in Cornwall-based internet provider Wildanet.

This financial boost aims to enhance broadband access in underserved rural areas of Cornwall, fostering economic growth, productivity, and social wellbeing.

Wildanet, supported by sustainable infrastructure investment specialists Gresham House, will utilise this investment to upgrade and expand its high-speed internet network across some of the most challenging terrains in the UK. The initiative promises to deliver faster broadband connections to an additional 20,000 homes and businesses, levelling the playing field for rural communities and enterprises throughout Cornwall.

Support for Project Gigabit

The Bank’s funding, coupled with a revolving credit facility from Santander, structured with the help of Deloitte, will aid Wildanet’s efforts as part of Project Gigabit. In April 2024, Wildanet secured a £41 million contract to connect over 16,800 homes and businesses in East Cornwall, West Cornwall, and the Isles of Scilly. This followed a 2023 announcement in which Wildanet was awarded contracts worth £36 million to connect up to 19,250 homes and businesses in South West and Mid Cornwall.

John Flint, CEO of the UK Infrastructure Bank, highlighted the challenges posed by Cornwall’s geography, making it one of the most difficult areas for internet providers. He noted that this financing would enable communities to reap the benefits of improved connectivity, which are crucial for economic and social development.

Wildanet’s Growing Impact

Helen Wylde-Archibald, CEO of Wildanet, expressed excitement about the new investment, stating that it would accelerate the company’s ambitious plans for Cornwall and promote growth within Wildanet. Helen praised the company’s strong partnerships with national and local governments, institutional investors, and banks, which have been instrumental in driving investment into Cornwall.

Wildanet has seen substantial growth, doubling its workforce to over 220 employees in the past 18 months and contributing significantly to the local economy through its extensive supply chain. Supported by Gresham House’s sustainable infrastructure strategy, which has invested nearly £100 million since 2020, Wildanet has emerged as a major regional employer.

Stevie Ingamells, Associate Director of Sustainable Infrastructure at Gresham House, lauded Wildanet’s efforts in delivering high-speed networks to rural areas. Stevie emphasized the importance of digital inclusion and the positive social impact of improved connectivity in the South West.

Advancing Connectivity in Rural Areas

Wildanet is already making strides in connecting hard-to-reach rural communities in South West and Mid Cornwall. Early beneficiaries include householders in Mullion and Lanivet, where new services have transformed internet connectivity from previously slow speeds.

In addition to its broadband rollout, Wildanet launched the Wildanet Technical Training Academy in 2023, providing industry-leading training for the next generation of telecommunication engineers. This initiative, along with a groundbreaking apprenticeship programme with Truro and Penwith College, underscores Wildanet’s commitment to delivering Project Gigabit contracts and expanding its commercial network across Cornwall and Devon.

In January, Wildanet became the first UK Alternative Network Provider (AltNet) to achieve Certified B Corporation status, reflecting its dedication to sustainability, ethical practices, and social responsibility. As the largest AltNet in Cornwall, Wildanet employs 94% of its staff from Devon and Cornwall and plans to continue expanding its gigabit-capable broadband services to rural and coastal communities, further reducing digital exclusion in the region.

This substantial investment marks a pivotal step in transforming Cornwall’s digital landscape, promising a brighter, more connected future for its rural communities.