Ambition North Wales has launched its £24.6 million North Wales Clean Energy Fund, aimed at accelerating the region’s transition to a low-carbon economy.
The fund, which is part of the North Wales Growth Deal, will provide vital financial support primarily for businesses and voluntary-sector organisations, wanting to deliver clean energy or decarbonisation projects.
The overall fund, which will run over a five-year period initially, consists of two key sub-funds for organisations based in North Wales. A voluntary sector sub-fund led by WCVA - designed for charities, social enterprises, and community-led projects; with UMi delivering on a private sector sub-fund for businesses. A third reserve fund can consider applications from other organisations and alternative funding models.
Together, the funding streams will support projects delivering smart energy solutions including storage, energy efficiency, decarbonisation and renewable energy generation.
By empowering organisations to create a sustainable future, the fund will deliver a £100m investment in the region, create 150 new jobs, and cut up to 125,000 tonnes of carbon dioxide equivalent.
Details of the fund were unveiled at a launch for partners and stakeholders, which was aptly held at Coleg Llandrillo’s Engineering Centre in Rhyl – a transformative development which features a renewable energy technology training facility.
Cllr Gary Pritchard, Lead Member for the Low Carbon Energy Programme, Ambition North Wales and Leader of Isle of Anglesey Council, said:
“I was immensely proud to be part of the launch, and now to see the fund up and running. It will mean that green energy projects based in North Wales can begin and progress more quickly. By supporting innovative businesses and community-driven projects, we are fostering a more sustainable, prosperous future for the region.”
Cabinet Secretary for Economy, Energy and Planning Rebecca Evans, who attended and addressed delegates, said:
“The launch of the Clean Energy Fund is fantastic news for North Wales, opening the door to more opportunities for the region’s thriving clean energy sector.
“With its abundant natural resources, skilled workforce, and commitment to sustainability, North Wales is uniquely positioned to lead the way in harnessing renewable energy.
“I look forward to seeing innovative developments that will drive economic growth while advancing our transition to a greener future.”
Wales Office Minister Dame Nia Griffith, who was able to share a video message during the event, said:
“The Clean Energy Fund helps to cement North Wales’s growing reputation in the clean energy sector. This fund, supported by investment from the UK Government, will ensure the sector continues to flourish and create new well-paid jobs.
“The UK Government has made kickstarting economic growth and making Britain a clean energy superpower the cornerstones of our Plan for Change. North Wales is at the heart of our ambitions to secure our energy supply, respond to climate change, reduce household energy bills as well as grow the economy”.
The fund aligns with the North Wales Regional Energy Strategy, aiming to increase the use of renewable energy and establish a strong local ownership of clean energy assets, ensuring long-term benefits for communities and businesses alike.