The Welsh government has awarded almost €15m of EU funding to marine energy developer Minesto for the next phase of the company’s tidal power project in Wales.
The €14.9m European Regional Development Fund grant was awarded through the Welsh government to support the continued development and operations of Minesto’s Holyhead Deep site 6km off the coast of Anglesey.
It also aims to help enhance the company’s utility-scale product range, install a new over 500kW unit at Holyhead Deep, strengthen manufacturing and assembling capability, secure permits and consents for expansion at the site towards a commercial 80MW tidal energy farm and design subsea infrastructure for the expansion.
Minesto chief executive Martin Edlund said: “This is a key contribution to the commercialisation of our technology and a strong sign of commitment from the Welsh government.
“We are pleased to see that we share an agenda to industrialise tidal energy in Wales, to enable large-scale local clean energy production from Welsh tidal streams.
“By doing so we will enable long-term industrial development in North Wales.”
Welsh Economy Minister and Minister for North Wales Ken Skates said: “This significant investment will take Minesto’s operation to the next level, supporting the expansion of the company’s manufacturing and assembly capacity at its North Wales base.
“It’s good news for jobs in the area, as well as a big boost to the local supply chain.”