The Welsh Government has taken an $9.9 million equity stake in the Morlais tidal energy scheme to ensure progress of what is set to become the largest tidal energy project in Europe.
Owned and managed by Ynys Môn social enterprise Menter Môn, the Morlais tidal scheme is the first of its kind anywhere in the world and will be operational from 2026.
The Anglesey site has the potential to generate enough energy for up to 180,000 typical Welsh households, offering a unique ‘plug and play’ model for developers of tidal energy devices.
This will help reduce costs as they scale up operations to generate clean electricity.
The Welsh Government investment will help fund the Cydnerth phase of the project, which will see the grid connection strengthened at Parc Cybi in Holyhead.
The Morlais tidal energy scheme has the potential to generate up to 240MW of low carbon clean electricity.
“We want to make Wales a world centre for emerging tidal technologies and we’re off to a good start on several fronts.
“Our investment will support Menter Môn Morlais to scale up capacity, and develop an industrial cluster for tidal energy and innovation in north Wales, whilst delivering jobs and growth through its pioneering technology, keeping the value local.
“This will further benefit clean energy suppliers of all sizes and position Wales at the forefront of the energy transition,” said Rebecca Evans, Cabinet Secretary for Economy, Energy and Planning.
“We welcome the Minister’s announcement, which strengthens our ability to deliver clean energy and local jobs through the Morlais project. This funding supports our vision to position north Wales as a leader in tidal energy innovation, creating opportunities for growth and collaboration across the region,” added Dafydd Gruffydd, Managing Director of Menter Môn.