Falmouth Harbour Commissioners has won a South West Green Energy Award for the FabTest marine energy test site in Falmouth Bay.
The pioneering project is a partnership between the commissioners, the University of Exeter, Wave Hub, A&P Group, Cornwall Marine Network and Mojo Maritime.
It picked up the best business innovation category prize at the award ceremony in Bath on Tuesday night.
FabTest gives marine energy developers the opportunity to test devices in a pre-licensed and consented area near the short that is easy to access.
The judges said the project was "an important step forward" for the South West marine renewables sector.
Harbour master Captain Mark Sansom said: "We are absolutely delighted to have won and hope it will further promote Falmouth's potential as a centre for the development of marine energy.
"FabTest is already playing an important role as part of the South West Energy Park as it allows essential technology testing to be carried out in sheltered waters, close to Falmouth's excellent port facilities."
Fred Olsen's BOLT Lifesave wave energy converter was the first to be installed, back in April, and is currently being tested before potentially being deployed at the Wave Hub site near Hayle.