North Wales tidal industry gets £12.6m EU boost
North Wales' tidal energy industry has received a £12.6m European Union boost.
The Welsh Government investment backs the next phase of Minesto's project involving underwater kites generating energy from tidal and ocean currents.
Anglesey-based Minesto plans to develop, install and operate a second-generation device with enhanced capacity at the Holyhead Deep site.
The project is part of a plan to expand the site into an 80MW commercial tidal energy hub to power 60,000 homes.
Counsel General and Brexit minister Jeremy Miles, responsible for overseeing European funds in Wales, said: "Generating energy from renewable sources is not only vital in creating a low-carbon economy and contributing to the global challenge of climate change, it also provides Wales with a real opportunity to be at the forefront of a major emerging industry."
Ken Skates, economy minister and minister for north Wales, added: "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."
Minesto set up its UK headquarters in Anglesey in 2015 and recently completed successful testing of the underwater "kite" technology it has constructed and installed in north Wales.
Dr Martin Edlund, chief executive, 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."