Welsh Government Boosts Marine Energy Development
- Business & Finance
Welsh Government has announced a further £1.2 million in funding to accelerate marine energy development in Wales.
The investment is to develop a Marine Energy Test Area (META) project in the Milford Haven Waterway.
The funding will support the work of Marine Energy Wales in developing a network of pre-consented areas of seabed that will support research, component testing, innovation, deployment techniques and scaled device deployment.
The £1.9 million META project is set to contribute towards Wales’ plans to play a key role in a growing global market and will add to the UK’s current network of test sites, Marine Energy Wales said.
Marine Energy Wales is an initiative developed and managed by Pembrokeshire Coastal Forum, a community interest company that works to protect and enhance the coastal and marine environment for current and future generations.
David Jones, project director of Marine Energy Wales said, “After discussing the META concept with industry over the last three years we are pleased to secure the finances and support to now move towards delivery. Marine energy has already had a positive impact upon our peripheral economies in Wales, supported local supply chain clustering and diversification, and we see META contributing to the continued cost reduction being delivered by the sector at the moment.”
Finance Secretary Mark Drakeford, said: “We want Wales to be at the forefront of research and innovation in the marine energy field so I’m delighted to announce more than £1 million of EU funds to help create this test area.”
“It’s a very exciting time for marine energy in Wales and this initiative is another major step in building a thriving industry in Pembrokeshire and in Wales. We are committed to attracting developers from around the world to Welsh waters.”