Virginia Crosbie MP has backed industry calling for a £30m tidal stream ringfence in the UK’s upcoming renewable auctions. This will build on the Government’s international leadership in setting consecutive ringfences that has positioned the UK to have over 100MW of tidal stream capacity in its waters by 2028.
Ynys Môn is home to Morlais, a world-leading site for tidal stream energy, which harnesses the entirely predictable power of tides by placing turbines in currents that flow around coastal areas. Virginia’s constituency has directly benefited with five Anglesey projects securing over 25MW of capacity in the previous renewable auctions.
The Government’s support is already delivering tangible results. HydroWing, which secured a contract for a 10MW project in 2023, recently announced the opening of a new office in M-SParc on Anglesey to support the project’s delivery. The Marine Energy Council’s ambition is to see further local investment and supply chains grow across the UK. This will help embed UK content in projects deployed here and around the world. The University of Edinburgh forecast this will deliver over £40bn to the UK economy, whilst reducing energy systems costs by £1bn per annum.
To build on the success of the last two renewable auctions, Virginia has joined the industry’s call for the Government to set a £30m ringfence and maintain its international tidal stream leadership.
Virginia Crosbie MP said:
“The UK’s transition to net zero is creating exciting opportunities for green jobs and investment in coastal communities like Ynys Môn. As a maritime nation we have the expertise and the resource to lead the world in harnessing the power of our tides.
“Thanks to this Government the UK is leading the world in tidal stream. I support industry efforts to build on this momentum to secure a £30m tidal stream ringfence in this year’s renewable auction.”
Richard Arnold, Policy Director of the MEC welcomed the support:
“The predictability of tidal stream will be increasingly valuable as we move to an energy system dominated by intermittent renewables. North Wales has a rich tidal resource and opportunity to harness this whilst creating and sustaining local supply chains, green jobs, and opportunities to export Welsh technology and expertise around the world. Virginia’s support in realising Ynys Môn's tidal stream potential is invaluable.”
Tidal stream has already provided over 60GWh to the UK grid, about the equivalent of powering 25,000 households for a year. Projects have been deployed with over 80% UK supply chain content spend and with the potential to provide over 10% of the UK’s electricity demand it could play a key role in Wales’ future energy mix.