New wave energy funding from EU
New wave energy scheme comes to Pembrokeshire with EU funding.
23rd September 2016
A new £5.8m scheme to generate energy from sea waves off the Pembrokeshire coast will be launched after securing £4m in EU funding through the Welsh Government. Finance Secretary, Mark Drakeford will today announce the funding for wave technology company Wave-tricity to develop and test a new device called the Ocean Wave Rower.
The project is the latest investment to help create a world-leading marine energy sector in Wales. EU funding of £12m has been committed to major clean energy projects including Minesto’s Deep Green initiative, being developed in Anglesey, and Marine Power Solutions’ WaveSub technology which will also be deployed in Pembrokeshire waters.
Mark Drakeford said:
“Marine energy is an important sector and Wales has excellent natural resources which can be harnessed. I am delighted this investment will bring another significant energy project to Pembrokeshire.
“It’s very encouraging that this scheme, which has such potential is being developed in Wales, particularly as it will lead to good employment and business opportunities in the local area.”
The Ocean Wave Rower will generate clean energy by capturing the natural motion of the waves. The two-year project aims to pave the way for full-scale deployment of the technology and the development of a long-term sustainable business in West Wales following the successful testing.
The EU funding, which will be matched by £1.8m from the company, is expected to lead to the creation of new jobs in engineering and operations at Wave-tricity in Pembrokeshire and supply chain opportunities for local businesses.