Marine Energy Wales has submitted its response to the UK Government's consultation on its new industrial strategy green paper.
Invest 2035' is a 10-year plan devised by UK Government to deliver certainty and stability, and to ultimately encourage businesses to invest in high-growth sectors. It's the first Industrial Strategy launched by Government in seven years.
The strategy focuses on tackling barriers to growth in the UK's highest potential growth-driving sectors and places, creating the right conditions for increased investment, high-quality jobs and ensuring tangible impact in communities across the UK.
The consultation process was a chance for stakeholders to inform the Strategy's development and ensure it delivers tangible impacts to communities across the UK.
Views were sought from business, international investors, unions and any other interested parties, on the overall vision, approach to growth sectors and the policy levers needed to drive investment.
On behalf of our members, MEW's response to this consultation encouraged a greater focus on supporting marine renewables as critical technologies for energy security and economic growth'.
Our response suggested a renewed focus in the following areas:
- Stressing the strategic importance of marine renewable energy and emphasizing the critical role it can play in achieving energy security, stimulating economic growth and meeting net-zero targets.
- Infrastructure development, highlighting the need to invest in ports and grid upgrades to be able to anchor a supply chain in Wales and the UK.
- Setting long-term targets for tidal and floating offshore wind technologies and enhancing contracts for difference (CfD) and other policy support mechanisms.
- Expanding training and creating high-value jobs in coastal regions.
- Streamlining regulatory processes and boosting funding for research and development.
On behalf of our network, we are proud to act as a voice for the marine renewable industry in Wales, and responding to consultations such as this are a vital part of what we do to help shape policy and drive the sector forward.
We look forward to seeing how our views have helped shape the strategy, the final version of which is due to be published in Spring 2025.
