Wales launches new publicly-owned energy company

Posted at August 8, 2023 » By : » Categories : News » Comments Off on Wales launches new publicly-owned energy company

A new publicly-owned energy company that focuses on community renewable initiatives has been launched by the Welsh Government.

Ynni Cymru, based at the M-SParc site at Anglesey, is part of the Labour Government’s co-operation agreement with Plaid Cymru.

It aims to expand community-owned renewable energy projects, with early scoping work indicating a “strong opportunity” for the energy firm to position Wales “at the forefront” of developing and delivering smarter local energy projects.

The Welsh Government confirmed around £750,000 has been granted to 11 projects, including solar and heat, over the next three years.

Climate Change Minister Julie James said: “With the launch of Ynni Cymru we are on our pathway to meet the equivalent of 100% of our annual electricity consumption from renewable electricity by 2035 and to continue to keep pace with consumption thereafter.

“However, to reach this we need a rapid transformation of our energy system. The current market-based approach to the energy system is not delivering decarbonisation at the scale or pace necessary for the climate emergency and has not been retaining sufficient benefit in Wales.

“Local use of locally generated energy is an effective way to support net zero and keep the benefit in our communities.”

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