David TC Davies MP, Secretary of State for Wales, outlined the UK Government’s support for the floating offshore wind and tidal stream sectors in a virtual address to hundreds of delegates at the Marine Energy Wales conference in Swansea today.
The two-day event brings industry leaders, experts, researchers, and policymakers together under one roof, to explore the latest developments and opportunities in tidal, wave and floating offshore wind energy.
Speaking at the conference, the Welsh Secretary described the marine energy sector as ‘vital’ to the UK Government’s net zero ambitions.
“I was delighted to speak at the Marine Energy Wales Conference. This is a sector that is vital to the UK Government’s net zero ambitions and to our mission to grow the economy of Wales, create jobs and spread prosperity.
“There is a huge amount of very exciting work underway, which the UK Government is proud to support, ranging from developing floating offshore wind in the Celtic Sea, supporting the budding tidal stream industry on Anglesey and our wider investments in Freeports and decarbonisation projects.
“Wales’s abundance of natural renewable resources is one of our nation’s greatest assets which – if harnessed – can help secure our energy supply and drive long term economic growth. There’s an exciting future ahead.”
This month, the UK Government outlined their largest ever budget for the next Contracts for Difference (CfD) auction round, totalling £1.025 billion.
The Department for Energy Security and Net Zero confirmed the continuation of a £10 million ringfence for tidal stream projects, and an increased funding pot for wave, tidal and floating offshore wind developers to bid into, when the auction opens on 27th March.