The Welsh Government has completed a £2 million (USD$2.66 million) equity investment in tidal energy firm Inyanga Marine Energy Group. The investment will help test improved tidal turbines in real sea conditions at the Morlais tidal energy site off Ynys Mon (Anglesey).
The investment will fund improvements to the turbines, enabling them to produce up to 60% more energy. The turbines will power most of the tidal energy projects planned for the Morlais site.
“The tidal energy scheme at Morlais is the largest consented project of its type in the world, really putting Wales on the map as a global leader in renewable energy,” said Richard Parkinson, CEO of Inyanga Marine Energy Group. ” Tidal energy has the potential to deliver 11% of the UK’s total energy needs and today’s announcement is an important milestone on that journey.”
Morlais is located in an area known for its strong tidal currents. The 35-square-kilometer site is one of Europe’s largest consented tidal energy projects and has the potential to generate enough electricity to power over 180,000 homes once fully developed.
The Welsh Government has committed to making Wales a world center of emerging tidal technologies.
“This investment is a big step forward for Wales’ clean energy future. Tidal energy offers reliable, clean power and creates quality jobs in coastal communities where they’re needed most,” said First Minister Eluned Morgan. “By investing in innovation, we’re putting Wales at the forefront of marine energy technology. The improved turbines will explore making tidal energy more practical, helping speed up the global move away from fossil fuels.”
