The Welsh government has announced plans to establish a state-owned renewable energy developer.
The company will initially focus on building onshore wind projects in the government’s woodland estate, where four projects totalling 441MW have been constructed to date and a further 134MW is in development.
Welsh minister for climate change Julie James said the move comes in response to energy insecurity, the cost-of-living crisis and the increasing threats posed by the climate and nature emergencies.
“We want to harvest our wind and use it to produce power that directly benefits people in Wales,” she added.
“This is a long-term sustainable investment that puts net zero and the communities of Wales at the heart of the transition we need.
“We are in a climate emergency and our approach is in stark contrast to the UK government that is focusing on fracking and fossil fuels – opposed by most communities and incompatible with our international obligations.”
Surplus funds generated through the new outfit will go back into the public purse to be reinvested in improving energy efficiency in homes in Wales and creating good quality, home grown, clean energy jobs, the government said.
James added: “This is an historic moment for Wales. The cost-of-living crisis is directly related to the major increase in the cost of energy, which strengthens the need for an approach that returns more to the people of Wales.
“If other countries are anything to go by, then we should expect considerable returns from our investment and – as we share the ambitions of these other nations – we have a genuine opportunity to produce an income that will really help us to deliver here.
“We are taking positive action to ensure we deliver on our net zero commitments in ways that benefit our communities.”