An underwater turbine scheme in the Morlais Tidal Energy Demonstration Zone has received a £300,000 funding boost.
Donated by Magnox’s socio-economic scheme and delivered by the Nuclear Decommissioning Authority, the boost will help fund the introduction of several tidal power devices, each of which has the potential to produce up to 30 megawatts, over a 35 square kilometre zone.
The turbine scheme is positioned off the coast of Anglesey and plans to become a globally pursued tidal energy site with the ability to support and power up to 25,000 homes.
Although the £300,000 donation is a step in the right direction, the project’s £30m budget is still awaiting the finalisation of EU bids to become fully funded.
Gerallt Llewellyn Jones, MD of Menter Môn that manages the seabed, stated his expectation for the scheme to garner up to £1m in yearly rent. He added that this revenue would be invested back into island community projects and economic developments.
For the full story, please head to Daily Post’s website.