North Wales will build on its strength as a leader in low-carbon energy, with the recent approval of the full business case for the region’s £24.6 million Clean Energy Fund.
The fund, part of the North Wales Growth Deal’s Low Carbon Energy programme, will primarily offer capital debt funding to private sector projects with grant/debt capital funding available to voluntary sector projects which focus on clean energy. There will also be the flexibility to consider investments in other sectors and via other funding mechanisms where projects clearly align to the objectives of the fund. It is expected that the fund will generate £100 million in regional investment, create over 150 new jobs, reduce carbon dioxide equivalent by up to 125,000 tonnes and support local ownership.
The investment will support a range of technologies and activities, including renewable energy generation, energy efficiency and retrofit projects, smart energy systems and clean energy manufacturing.
The fund, set for launch in July, will be open for applications over an initial five-year period, with the potential to extend to 2035 depending on uptake and performance. Projects must be up and running within 36 months of receiving investment, and applicants will need to provide match funding. By unlocking investment, the fund will accelerate progress towards net zero targets for Wales and the UK.
For further information please select the following link: Ambition North Wales | Powering the future – Clean Energy Fund gets Ambition North Wales green light
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