Welsh Government to set up state-owned renewable energy developer

The Welsh Government’s Minister for Climate Change, Julie James, has unveiled plans for a state-owned energy developer, with any surplus funds being reinvested in improving energy efficiency in homes in Wales “and creating good quality, home grown, clean energy jobs”.

The Welsh Government said the move was “in response to energy insecurity, the cost-of-living crisis and the increasing threats posed by the climate and nature emergencies”.

The aim is for there be more than one gigawatt of locally-owned generation by 2030.

The Welsh Government said the new state-owned energy developer would scale up renewable energy rollout, initially through the development of onshore wind projects on the Welsh Government woodland estate.

Julie James said: “We want to harvest our wind and use it to produce power that directly benefits people in Wales.

“We will set up a publicly-owned renewable energy developer. This is a long-term sustainable investment that puts net zero and the communities of Wales at the heart of the transition we need.”

The focus of Wales’ energy policy is securing a reliable and diverse energy mix that delivers local benefit, the Welsh Government said.

James added: “This is an historic moment for Wales. The cost-of-living crisis is directly related to the major increase in the cost of energy, which strengthens the need for an approach that returns more to the people of Wales.

“If other countries are anything to go by, then we should expect considerable returns from our investment and – as we share the ambitions of these other nations – we have a genuine opportunity to produce an income that will really help us to deliver here.

“We are taking positive action to ensure we deliver on our net zero commitments in ways that benefit our communities.”