Swedish tidal developer Minesto said its Holyhead Deep project off Anglesey would be unaffected by the UK’s referendum decision to leave the European Union.
Chief executive Martin Edlund said the vote would not impact Minesto’s EU-backed demonstration of its first full-scale device of its Deep Green subsea tidal kite technology.
In May 2015, Minesto secured an offer of a €13m grant from the European Regional Development Fund through the Welsh European Funding Office, part of the Welsh Government.
“The referendum results will not affect Minesto’s EU project in Wales,” he said. “The financial support is secured and tidal energy is now more important than ever for the region.”
Edlund added: “During the period when Britain negotiates the conditions for leaving the EU, the question marks for every overseas business looking to invest in the UK will gradually be answered.
“What we do know now is that our financial support from WEFO remains in place.”
Image: Deep Green (Minesto)
