The Welsh Government has completed a £2 million equity investment in tidal energy firm Inyanga Marine Energy Group to 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 35 square kilometre Morlais site.
Richard Parkinson, CEO of Inyanga Marine Energy Group, said: “This significant £2 million equity investment from the Welsh Government completes the financing for the demonstration phase of our ambitious technology.
“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. 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.”
Andy Billcliff, CEO of Menter Môn Morlais Ltd, said: “We are proud to see this significant milestone as Inyanga gears up to deploy their HydroWing demonstration project within the Morlais zone. It’s a major step not only for the tidal energy sector, but also for Anglesey and the wider Welsh economy.”