A £600 million investment in renewable energy projects across Wales has been described as a major boost for the sector. The funding comes from global investor Copenhagen Infrastructure Partners, which has taken a notable minority stake in Bute Energy, an onshore wind developer and its grid development arm, Green GEN Cymru.
Bute Energy has developed a portfolio of energy park projects across Wales, integrating onshore wind and solar power. The company believes the investment will help it become the UK's largest independent renewable energy generator by 2030. The plans align with the Welsh Government's goal of meeting the nation's entire annual electricity demand with renewable energy by 2035, with Bute Energy aiming to contribute a quarter of that goal.
The announcement was made at an event in South Wales attended by First Minister Eluned Morgan, who emphasised the importance of ensuring local communities benefit from the green energy transition. She highlighted the need to balance investment with job creation and opportunities for people across Wales. By 2035, the Welsh Government intends for local ownership to account for at least 1.5 GW of renewable energy capacity.
Bute Energy has committed a portion of its Community Benefit Fund to support smaller-scale, locally owned renewable energy projects. These initiatives will be handed to community organisations, providing long-term financial support for local services. The company also expects its energy parks to create 2,000 jobs and set new standards for social value, encouraging suppliers to contribute to the communities where they operate.
The UK Government has welcomed the investment, describing it as an important step in securing Britain's position as a leader in clean energy. The first of Bute Energy's new projects is expected to receive planning decisions by summer 2025, potentially delivering enough power for one million homes.
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£600m investment in Welsh green energy projects announced
- Publish Date: Posted about 1 month ago
- Author: Steve Walia