Welsh Minister announces EU funding to marine energy projects

The Welsh Minister for Environment, Energy and Rural Affairs, Lesley Griffiths, made an announcement at the Ocean Energy Conference in Dublin last week stating the names of the various companies which would benefit from EU funding.

The EU funding, amounting to just over £63M, will be divided between Ledwood Engineering, Mainstay Marine, MarineSpace, Minesto, and Marine Power Systems to fund each of their respective projects to provide tidal or marine energy to Wales.

To be specific, Ledwood Engineering, Mainstay Marine, and MarineSpace are all providers of expertise within this sector whereas Minesto is the creator of the Deep Green tidal stream technology, at Holyhead Deep in Anglesey, and Marine Power Systems are the creator of the WaveSub tidal turbine in Swansea.

Minister Griffiths stated: “We are determined for marine energy to be a key part of our plans for Wales to become a nation powered by renewable energy sources. EU funds have been crucial in supporting this.

“We have set ambitious targets as we strive to become a greener Wales where resources are managed not for just today, but for the benefit of future generations.

“This year we have accepted the UK Committee on Climate Change advice to increase the ambition of our decarbonisation targets in Wales, brought forward legislation next year to adopt a 95 per cent target for greenhouse gas reduction and are exploring how we can set a net zero target in the future.

“Marine energy and offshore wind are essential parts of these targets, as we look to harness our natural resources to achieve long term benefits for everyone in Wales.

“We have invested to support marine energy and we need the UK Government to follow suit.  The recent announcements on the Contracts for Difference auction show how it has driven down costs for offshore wind. The success of this mechanism must be extended to other marine technologies.

“Offshore wind has shown it can compete at or below the market rate, so the UK Government should open the support for marine and other new technologies to drive down the costs and secure a new industry to the UK.”

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