[Holyhead, Wales, May 20, 2015] Marine energy company Minesto has been awarded a 13 million Euros investment from the European Regional
Development Fund through the Welsh Government. The funding is part of the commercial roll out, including the establishment
of Minesto UK Headquarters in North Wales and commissioning of the first
commercial Deep Green power plant.
The EU funds will support
a marine energy project in Holyhead Wales aiming to support an expansion of
marine energy in Wales and UK. The Welsh Government manages the delivery of the
EU Structural Funds programmes in Wales.
Minesto will 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.
“Establishing Minesto UK Headquarters in North
Wales is a strategic decision that will help make Wales a global leader in the marine
energy sector. In the short term, around 30 direct jobs will be created, followed
by hundreds more in the long term in areas like manufacturing, offshore operations
and new project development,” said Anders Jansson, CEO of Minesto. “Today’s
announcement represents an important step into the full commercialisation of marine
energy in Wales.”
The Welsh
Government has been working with Minesto over a number of years on feasibility
studies to help bring this investment to North Wales
First Minister, Carwyn Jones, 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.”
“We have extensive
raw wave and tidal energy resources along our shorelines, and this is an excellent example of commercial solutions being
developed in Wales to help drive our
potential to be a world-leader in the marine energy market. This investment
will not only help create greener and
more efficient sources of energy, but will also create jobs and vital
opportunities for growth in North Wales.”
Wales has 1,200
kilometres of coastline with low velocity tidal currents, with the potential to
supply more than five per cent of the UK’s total electricity demand. Wales also
has strategically located deep-sea ports and access to the UK national grid.
The existing grid capacity means the time for commercial rollout will be
significantly lessened, helping Wales to become the world-leading region for
marine energy. According to a report commissioned bythe Welsh Government, marine energy could boost the Welsh economy by up to 840 million pounds
annually after 1GW has been deployed.
“We have been working
closely with the Welsh Government over the course of the last year to ensure
that this investment will enable Minesto to move into commercialisation, as
well as to establish marine energy as a viable industry in North Wales and the
UK. This is great news, not only for us
as a company, but also for Wales as a region - and indeed the entire marine
energy industry, since this marks an important recognition of the potential of marine energy in Wales and elsewhere,” said Anders Jansson.
In July
2014, Minesto was awarded an ‘Agreement for Lease’ for a
commercial demonstration site for electricity production from tidal currents
near Holyhead Island in Wales, called Holyhead Deep. Holyhead Deep is a seabed
area west of Anglesey, North Wales. Minesto first identified the area as a
perfect location for a commercial Deep Green installation with help from another
EU funded project, SEACAMS, in 2012.
The area meets all of the physical requirements, providing low-flow tidal
velocities (1.5 m/s – 2 m/s mean peak flow) at a depth of 80-100 meters, just a
short distance from the shore. The area
also benefits from excellent port facilities in Holyhead Port, onshore grid
connection potentialat Holy
Island, good transport links and access to installation and maintenance
services, as well as strong local support for marine energy.
Minesto’s tidal power plant, called Deep Green, looks like an underwater kite and is based
on an innovative new approach for electricity generation from tidal and ocean
currents. Deep Green is the only proven
marine power plant to generate electricity from low velocity tidal
currents, which greatly enhances the potential for marine energy. Deep
Green has been producing electricity in the waters off Northern Ireland for
almost two years now. This has been hailed as a major breakthrough
for the entire renewable energy industry.
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