Research

 

World class research taking place in Wales

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Funding

 

€100.4 million EU structural funds prioritised for marine energy in Wales

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Consenting Guidance

 

To assist with the application process for marine licences

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Marine Energy Wales Economic Evaluation 2017

Marine Energy Wales’ report ‘Marine Energy in Wales – Investment, Jobs, Supply Chain’ provides an update to the report published by Marine Energy Pembrokeshire in 2015.

The report finds that there has been an increase in investment into the Welsh marine energy sector of over £23 million since 2015, with current investment totalling £68.3 million. The sector directly supports 137 full time equivalent jobs and 350 person years of employment, 101 more jobs than two years ago.

Current developers actively involved in Wales have indicated an expected investment of £1.4 billion in the next 5 years, provided market and development incentives are in place.

The figures included in the report are direct impacts; the contribution is increased when total gross value effects are included from the wider supply chain.

The report was launched at the Marine Energy Wales 2017 Conference by Ken Skates, Cabinet Secretary for Infrastructure and Economy, who said: “This latest report is very encouraging and highlights the rapid growth of the marine energy sector and its contribution to the Welsh economy. We have a truly excellent hub of supply chain businesses and facilities in Wales that are ready and able to take advantage of opportunities in the sector.

 “We therefore aim to build on Wales’ reputation, working in partnership with industry,  to ensure we are not only ‘open for business,’ but are once again seen as a global centre for energy,  not only as a generator of marine energy but as an exporter of knowledge, technologies and services.”

The report covers the wave, tidal stream and tidal range sectors across Wales and demonstrates that marine energy is fast becoming a dynamic and exciting part of the Welsh economy.

The full report is available to view and download here