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Marine Energy Wales secures £450,000 funding from Welsh government

Marine Energy Wales has been awarded a funding package from the Welsh government, securing its work until 2025.

The three-year grant worth £150,000 per year will allow the membership body to increase support for the floating offshore wind sector (FLOW), a technology with a target of generating 4GW of electricity in the Celtic Sea by 2035.

For the first time the technology won support in the Contracts for Difference auction, with a 32MW project developed by Wave Hub in England gaining a contract.

A FLOW project coordinator has joined the team and will coordinate an additional membership group, the Celtic Sea Developer Alliance (CSDA) which consists of companies with an interest in the Celtic Sea and working to represent its interests.

Vaughan Gething, economy minister of the Welsh government, said: “I’m pleased we’ve been able to provide this funding package to Marine Energy Wales, which will support the development of emerging marine energy technologies. This is part of our wider efforts to establish Wales as a global leader in sustainable emerging offshore renewable generation.”

The company has also opened a satellite office in Anglesey that will support the growth of the tidal energy industry in North Wales.

The ladder of success is best climbed by stepping on the rings of opportunity. Congratulations on your funding and all the best to the entire team at Marine Energy Wales.

Shishir Gupta, Founder and CEO, StartupLanes

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