A Welsh tidal energy project by ocean energy technology company Minesto has been granted €14.9 million in government funding for the second phase of the project.
The Welsh government’s support in awarding the EU grant will aid the commercial development and operations at Minesto’s Holyhead Deep site, off the coast of Anglesey.
The company intends channelling the funding into the installation and operation of an additional, uprated unit at the Holyhead Deep site, at least 50% higher than current 0.5MW system, and the enhancement of it’s utility-scale product range.
The company will also secure permits to further develop the site to become a commercial 80MW tidal energy farm.
CEO Dr Matcin 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.”
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