Clean Energy Fund Gets Ambition North Wales Green Light
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 more than 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.
Cllr. Gary Pritchard, Leader, Isle of Anglesey County Council and Lead Member for the Ambition North Wales Low Carbon Energy Programme, said:
'The approval of the Full Business Case marks a major step forward for our Low Carbon Energy programme. The Clean Energy Fund has been designed to respond to the needs of our region, providing the right support to organisations that want to drive innovation and help meet our climate goals.
'We're proud to be taking a collaborative approach, working with partners across the public, private, and voluntary sectors to promote new opportunities and ensure that our communities can benefit from the transition to a net zero economy.'
Cabinet Secretary for Economy, Energy and Planning Rebecca Evans said:
'The approval 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 said:
'The green light for the Clean Energy Fund is fantastic news for North Wales. Part funded by the UK Government, via the North Wales Growth Deal, it will power economic growth and create new jobs which will put more money into people's pockets.
'I'm looking forward to seeing innovative projects come forward for support, cementing North Wales's growing reputation in the clean energy sector and contributing to the UK Government's economic growth and clean energy missions.'
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. Ambition North Wales says that by unlocking investment, the fund will accelerate progress towards net zero targets for Wales and the UK.
Advisors UMi (in partnership with Optimum Elite and Auditel), along with Wales Council for Voluntary Action (working with Community Energy Wales and Mantell Gwynedd) were appointed in late 2024 to help shape and deliver the fund. Together, they combine commercial expertise alongside an in-depth understanding of the voluntary sector, which will ensure effective design and delivery of the fund, said Ambition North Wales.
By supporting clean energy innovation and infrastructure, the fund aims to make North Wales a key player in the UK's energy transition, while delivering lasting economic, environmental, and social benefits for the region.
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