A multi-million pound marine energy project in Pembrokshire, Wales, has been given the green light with the UK and Welsh governments approving the project’s business case.
The Pembroke Dock Marine Swansea Bay City Deal project is being developed to creast world-class centre for marine engineering with an immediate focus on low carbon energy. The project, which is being led by the private sector, is expected to create more than 1800 jobs in the next 15 years and to generate £73.5 million a year to the Swansea Bay City Region’s economy.
The project is made up of four elements which include:
- The Marine Energy Test Area within the Milford Haven Waterway led by Marine Energy Wales, enabling technology developers to test their marine energy devices close to their base of operation
- The largest facility of its kind in the world, a 90 square kilometre Pembrokeshire Demonstration Zone delivered by Wave Hub Limited that will enable the deployment of future energy generating technologies, including floating wind
- Marine Energy Engineering Centre of Excellence - a technology, innovation and research centre delivered by the Offshore Renewable Energy (ORE) Catapult
- Redevelopment of land at Pembroke Dock, led by the Port of Milford Haven, to deliver the infrastructure needed by the industry as it continues to mature
Commenting on the business case approval, Lee Waters MS, Deputy Minister for Economy and Transport, said: “This is a significant step in moving forward the Swansea Bay City Deal and in demonstrating our commitment to the development of a Centre of Excellence for marine technology in Wales.”
The approval means Pembroke Dock Marine can now start accessing the £18 million of funding that the UK Government and Welsh Government have already released to the City Deal programme as a whole.
A further £18 million of City Deal programme funding will soon be secured once the City Region has met all recommendations arising from reviews into the City Deal, with detailed work on-going.
The £1.3 billion Swansea Bay City Deal is being funded by the UK Government, the Welsh Government, the public sector and the private sector.
Pembroke Dock Marine is seeking £28 million from the City Deal programme in coming years, which will help leverage a further £32 million of public and private funding.