Minesto wins EU funding

6 June 2019

The Welsh government has announced its continued support of marine energy developer Minesto with the award of €14.9 million of EU funding for the next phase of a tidal energy scheme.

The €14.9 million European Regional Development Fund grant will facilitate continued site development at the proposed Holyhead Deep project site, located 6 km off the coast of Anglesey, North Wales.

“This significant investment will take Minesto’s operation to the next level, supporting the expansion of the company’s manufacturing and assembly capacity at its North Wales base,” commented Economy Minister and Minister for North Wales, Ken Skates. “It’s good news for jobs in the area, as well as a big boost to the local supply chain.”

The funds will support enhancement of Minesto’s utility-scale product range, based on a subsea kite technology called Deep Green. It will also help to finance the installation and operation of an additional, uprated unit in Holyhead Deep that is at least 50 per cent larger than the current 0.5 MW unit in place.

“Generating energy from renewable sources is not only vital in creating a low-carbon economy and contributing to the global challenge of climate change, it also provides Wales with a real opportunity to be at the forefront of a major emerging industry,” said Counsel General and Brexit Minister, Jeremy Miles, responsible for overseeing European funds in Wales.

Minesto hopes to secure permits and consent for expanding the Holyhead Deep site into an 80 MW tidal energy farm.

In May 2015, Minesto secured a €13 million investment from the European Regional Development Fund through the Welsh European Funding Office, for the commercial rollout of Deep Green.



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