- Posted by: Mike Hedges MS
- Category: Press Releases
Mike Hedges AM welcomes £26m investment for solar energy initiative centred in Wales
A £26 million EU-backed investment to drive forward the solar energy industry has been announced by Welsh Labour’s Finance and Government Business Minister Jane Hutt.
Mike said… ‘I welcome the news of this new investment in renewable energy; we ought to be making every use of green energy opportunities. This investment shows how partnerships between Europe Union, the Welsh Government, Universities and other partners can develop new technologies. It also shows how valuable to the Local Economy being part of the European Union is.
The funding is made up of £15m of EU funds, £4m from the Engineering and Physical Research Council (EPSRC) and Innovate UK, and £7m investment from Swansea and Cardiff Universities, coupled with crucial investment from industry partners. The funding will support a new phase of research and commercialisation of technology being developed at Port Talbot-based SPECIFIC Innovation and Knowledge Centre.
The EU-backed investment will help SPECIFIC to progress the commercialisation of technologies to transform “buildings into power stations” by enabling them to generate, store and release their own solar energy.
The five-year initiative will support SPECIFIC’s innovative ambitions for the commercialisation of research within the renewable energy sector through demonstration of integrated technologies in buildings across residential and commercial sectors.