Welsh marine energy company Minesto has been awarded EUR 13 million in investment from the European Regional Development Fund through the Welsh Government. This funding will allow the company to start the commercial roll out of marine power plants in Wales.
Minesto will use the EU funds to install the first commercial scale 0.5MW power plant in Holyhead Deep and continue with additional deployments in what will eventually be an array with a total capacity of 10MW, expected to be operational in 2019. The 10MW array will supply electricity to the equivalent of 8,000 households and create significant employment opportunities in both the construction and operational phases.
“Today’s announcement represents an important step into the full commercialisation of marine energy in Wales,” Minesto CEO Anders Jansson said.
“I am delighted that this EU funds investment has helped pave the way for Minesto to set up its UK headquarters in North Wales, which will create high quality jobs in what is a rapidly expanding and important sector for Wales,” Welsh First Minister, Carwyn Jones said.
The Welsh Government has been working with Minesto for a number of years on feasibility studies to help bring this investment to North Wales.
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