- Posted by: Mike Hedges MS
- Category: Press Releases
Mike Hedges AM welcomes £9.5 million EU investment which will help Wales move towards a low carbon economy
2 renewable energy projects will benefit from £9.5 million of EU funding, Finance Secretary Mark Drakeford announced today, at an event to celebrate the impact of EU funds in Wales
Mike Hedges AM said…. ‘ This is great news for Wales and for Swansea Community Solar Energy in particular. I have visited this great local company and am thrilled that they will now be at the forefront of a market leading pilot project. We need to be as innovative as possible to meet the challenges of climate change and the need for Green Energy. This project could lead to further investment in new technologies in the Swansea Area. I wish this company the best of luck in delivering this project.’
The £14.4 million GSCS (generation storage consumption supply) scheme, will receive £9 million of EU funding.
It will use cutting-edge battery technology to generate and store electricity from renewable and low carbon sources, which will then be distributed to local businesses at a discounted rate.
GSCS will provide revenue-saving opportunities at sites in Blaenau Gwent, Caerphilly, Rhondda Cynon Taff, Pembrokeshire and Carmarthenshire.
The £0.9 million community solar energy storage scheme in Swansea – Swansea Community Solar Storage with Direct Local Supply – will receive £600,000 of EU funds to supply electricity to up to 300 local consumers.
Based at Wales’ first community-owned solar farm, the innovative scheme aims to create a larger local community energy model to support many more communities across Wales.
Speaking at the event in Cardiff, Professor Drakeford said:
“This investment is another positive example of how the Welsh Government is supporting innovative projects using EU funding and highlights the importance of securing replacement funding for Wales from the UK Government when we leave the EU.
“We are committed to creating a sustainable low-carbon energy economy in Wales and aim to generate 70% of our energy from renewable sources by 2030.
“These two projects will play an important role by supporting local businesses and communities to use renewable energy and help us achieve this goal together.”
Cabinet Secretary for Energy, Planning and Rural Affairs, Lesley Griffiths said:
“As a government we are committed to accelerating the transition of our energy system in Wales, particularly through the increased use of renewable energy. Our priorities are to increase energy efficiency, reduce our reliance on energy generated from fossil fuels and to actively manage the transition to a low carbon economy to benefit Wales.”
Iestyn Morgan, lead director from the Infinite Renewables Group, said:
“GSCS is an exciting new initiative, which will deliver energy cost savings to the business community. It supports the Welsh Government’s commitment to create a sustainable low-carbon economy by moving towards a smart energy future that combines local clean energy, storage and micro grids.”
Ant Flanagan, from Gower Power Solar Storage, said:
“The holy grail of community energy is enabling local energy consumers to benefit directly from renewable energy generation and storage assets – not only by sharing profits but also by reducing bills.
“This EU investment will enable us to carry out a market leading pilot. We are looking forward to working with great partners to make savings to national transmission costs and put money back into local people’s pockets, while also delivering wider community benefit programmes.”