Daily News
£600 Million Investment to Transform Wales’ Clean Energy Landscape
Global renewables investor Copenhagen Infrastructure Partners (CIP) is set to acquire a significant minority equity stake in onshore wind developer Bute Energy and its sister company, grid developer Green GEN Cymru.
Bute Energy has developed a pipeline of energy park projects across Wales, integrating cutting-edge onshore wind and solar technology. The company claims these projects will drive the largest business investment in rural Wales in decades.
The company have said: “This represents an industry-leading investment which could see our company become the UK’s largest independent generator of renewable energy by 2030. Our plans are a direct response to the Welsh Government’s target for 100% of the nation’s annual electricity consumption to come from renewable sources by 2035. We’re aiming to meet 25% of this target while also contributing up to 18% of the new UK Government’s target of doubling onshore wind by 2030.”
The Welsh Government aims to have at least 1.5 GW of renewable energy capacity under local ownership by 2035. Bute Energy has pledged that 25% of its Community Benefit Fund will support community-owned, small-scale energy projects. These projects will be gifted to local organisations, generating revenue to fund essential services in the communities closest to its energy parks.
They have also stated that its network of wind energy parks could generate up to 2,000 jobs while establishing an “industry-leading” social value standard. This initiative will encourage contracted suppliers to contribute to local communities through job creation, additional investment and volunteer efforts, including sharing expertise and providing upskilling opportunities. This further demonstrates the importance of professional development and training within the sector.
Ed Miliband, UK Government Secretary of State for Energy and Climate Change, said about the announcement: “This is a significant investment and vote of confidence in our mission to make Britain a clean energy superpower. Businesses across the country are seizing the economic opportunities of clean energy, driving growth and investment into communities and securing our energy system. Renewable energy will be front and centre of our clean power system, with companies like Bute Energy and Green GEN Cymru delivering the projects the UK needs to bring down energy bills, protect our energy security, and create good jobs for the future.”
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