Wales leads the way in Green Growth

The Welsh Government, in collaboration with The Climate Group, held the International Green Growth Forum in Cardiff (Thursday March 4th).

The Forum will brought together regional government representatives and international and Welsh business leaders to discuss best practice and how they can work together to become more innovative, efficient and sustainable.

Wales has a strengthening global reputation for green growth and both the Minister for Economy, Science and Transport and the Minister for Natural Resources addressed delegates.

Delegates heard from a variety of high profile speakers during the day including government representatives from California, Catalonia and Quebec as well as representatives from global companies like Philips, BT and Nestle. Jonathan Taylor, Vice President of the European Investment Bank also spoke at the Forum alongside Sir David King, the UK Government’s Permanent Special Representative for Climate Change.

Speaking ahead of the conference, the Minister for Economy Science and Transport, Edwina Hart, said partnership working between the public, private and academic sectors using European funds to develop key projects is already having a positive impact, helping Wales to establish itself as a world class centre of excellence for sustainable green growth.

Mrs Hart said:

“Our commitment to creating a prosperous and sustainable economy in Wales which promotes economic growth and innovation whilst protecting our natural resources is strong and clear – we are already delivering results in this important area.

“Using previous and current European funding streams, technology and project developers have already invested £34.5million – £20million EU funding, matched by £14.5million from private sector investment –  in new and innovative tidal and wave stream energy projects, including key developments by Tidal Energy Limited, Minesto and Marine Power Energy Systems.”

Last month Cardiff based Tidal Energy Limited announced that testing had begun of its new revolutionary energy device, Delta Stream. Supported by £8million of EU funds through the Welsh Government along with other private sector investment from Welsh renewable energy company Eco2 Limited, the device uses the ocean’s tidal movements along the Pembrokeshire seabed to generate energy.

Testing of the pilot Delta Steam turbine has taken place but once the scheme is fully installed and operational – the final generator system aims to harness energy from 9 underwater turbines – it is expected to generate enough renewable energy to power as many as 10,000 Welsh homes.

The Economy, Science Transport Minister added:

“In addition to paving the way for greener and more efficient energy sources, these schemes are helping to create high quality jobs in Wales and enhance our reputation as a world leader in the tidal energy sector market.”

Closing the event, Natural Resources Minister, Carl Sergeant launched  ‘The Business of Becoming a Sustainable Nation’, which sets out the Welsh Government’s ambitions to be a world-leading nation of green growth, and will be committing £13millon of new Welsh Government funding to public sector Green Growth projects in the next financial year [2016/17], building on more than £20million already committed to sustainable projects in Wales.

Mr Sargeant said:

“Today builds on the Paris agreement in a practical way for Wales as we continue our green growth journey. The investments I am announcing today are being made through a new revolving fund, Invest To Save Green Growth, and we anticipate making further investments in future years with a view to building a total fund well in excess of £50million.

“This approach will save the public sector more than £0.5billion over the next 25 years, improve more than £250million of public infrastructure, and reduce Carbon emissions by 2.5million tonnes.”

The Invest To Save Green Growth fund will be used to support public sector investments in energy efficiency and renewables and include projects such as LED replacement of streetlights, new energy efficient boilers, smart control systems and wider building improvements such as insulation, double and triple glazing, LED light bulb replacements and solar PV panels.

Wales’ Finance and Government Business Minister, Jane Hutt added:

“Green Growth is key to transforming the way we do business  and vital EU funds are supporting schemes to progress this important agenda.”