The Welsh Government has taken an £8 million equity stake in what will become the largest consented tidal energy project in Europe.
The Morlais tidal scheme is set to kick off operations next year and is owned and managed by Ynys Môn (Anglesey) social enterprise Menter Môn.
The government has said it has made the investment to ensure progress on the tidal energy project.
It said that the cash it has pledged will support the Cydnerth phase of the project, which will see the grid connection strengthened at Parc Cybi, Holyhead.
This comes as part of the Welsh Government’s plans to “make Wales a world centre for emerging tidal technologies,” said cabinet secretary for economy, energy and planning, Rebecca Evans.
The project manages an area of over 21 miles² of the seabed near Holy Island, Anglesey
Dafydd Gruffydd, managing director of Menter Môn, added: “This funding supports our vision to position North Wales as a leader in tidal energy innovation, creating opportunities for growth and collaboration across the region.”
The Morlais project has the potential to produce 240MW of electricity, enough to power up to 180,000 typical Welsh homes.
The scheme aims to connect to a nearby substation and the national grid.
Evans added: “Our investment will support Menter Môn Morlais to scale up capacity, and develop an industrial cluster for tidal energy and innovation in North Wales, whilst delivering jobs and growth through its pioneering technology, keeping the value local.
“This will further benefit clean energy suppliers of all sizes and position Wales at the forefront of the energy transition.”
The government said that the unique ‘plug and play’ model of the Anglesey site will reduce costs as developers scale up tidal energy roll-out in the region.
“By supporting projects like Morlais, we are not only unlocking the potential of our natural resources but also laying the foundation for a resilient, green economy in North Wales,” commented John Idris Jones, chairman of Menter Môn Morlais.
As part of the UK Government’s Allocation Round (AR) scheme, the funding set aside for emerging technologies like tidal more than doubled last year under Starmer.
Among the winners of last year’s AR6 were 6 projects that received backing, unlocking 28MW of capacity.
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