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Ynni Cymru

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Ynni Cymru
Company typePublicly-owned
IndustryEnergy
Founded7 August 2023
HeadquartersM-SParc, Anglesey, Wales
OwnerWelsh Government

Ynni Cymru (Welsh for 'Energy Wales') is a publicly owned energy company of the Welsh Government, based in Anglesey, Wales. The company launched in August 2023, and it aims to support investment in Welsh community-owned renewable energy generation, although its full responsibility in the projects it funds are still to be determined.

Proposals for the company have been raised by Plaid Cymru since at least 2016, and was included in the 2021 Welsh Labour–Plaid Cymru agreement, which was followed by a commitment by the government to first explore the concept, and later to establish the company. The company currently funds eleven projects in Wales using grants under its name.

Ynni Cymru differs from Trydan Gwyrdd Cymru, a state-owned company launched by the Welsh Government in 2024, which is a renewable energy developer.[1]

Background and history

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Initial Plaid Cymru proposals

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Ynni Cymru was raised by Simon Thomas, an AM for Plaid Cymru, in December 2016 to the Institute of Welsh Affairs,[2] with it being debated in the Welsh Assembly in June 2018,[3] and repeated by Plaid Cymru in April 2021. The party proposed it should be based in Anglesey and be a national not-for-dividend arms-length "project development company" of the Welsh Government. It was compared to Transport for Wales and the Development Bank of Wales. It was proposed that it would oversee and invest in the private sector and invest its profits in improving services and prices. Plaid argued such a company would focus on zero carbon electricity generation, develop an "energy atlas" of areas in Wales with "green energy potential", to identify opportunities to develop firms and projects, and develop a network of regional and local energy companies to fit local demand. Plaid proposed the company should aim to reduce the cost and consumption of energy in homes and businesses, make Wales self-sufficient and an exporter of renewable energy, and increasing the use of smart meters to improve the decision making of consumers. It was proposed to fund the mass installation of solar panels on buildings and lampposts, while outsourcing the projects to local companies, develop the use of publicly owned land for renewable energy use, and to develop large-scale energy generation and storage capacity.[2][4]

Welsh Government management and launch

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In October 2021, the Welsh Government announced it was looking into the concept of a publicly owned energy company, and whether such a company would improve the use of renewable energy in Wales.[5] Proposals for a company were included in the 2021 Welsh Labour–Plaid Cymru agreement, between the Welsh Government and Plaid Cymru.[6] In October 2022, the Welsh Government announced it would it make efforts to establish the company, as part of the co-operation agreement.[7][8][9]

Ynni Cymru is based in M-SParc, Anglesey.[10] The full role of the company has not been decided as of 2023, in particular, whether the company would hold stakes in its funded projects. The main aim of the company is to support investment in community-owned renewable energy generation in Wales. Grants on behalf of the company have already been awarded by the Welsh Government to eleven projects, which were collectively awarded £750,000. In its 2023 annual government budget, the Welsh Government earmarked £2.47 million for the company, as well as an additional £10 million to spend on infrastructure. The company hopes to hire its first nine energy-specialised staff, increasing to twelve shortly after.[6][11][12] Payments from the company, over the next three years, would be in the form of grants.[9] On 7 August 2023, the company was publicly announced and launched[6][13][14] and efforts were underway to fully establish the company.[15]

On launch, the Welsh Conservative Shadow Climate Minister Janet Finch-Saunders welcomed the proposal, but also urged restrictions be lifted on private individuals developing local hydro power on their land. While Siân Gwenllian, a Plaid Cymru MS working with the Welsh Government under the Plaid co-operation deal, stated more community projects were needed to be under the company's remit.[6]

Minister for Climate Change, Julie James, stated "we are on our pathway to meet the equivalent of 100% of our annual electricity consumption from renewable electricity by 2035, [...] [but] to reach this we need a rapid transformation of our energy system. [...] Local use of locally generated energy is an effective way to support net-zero and keep the benefit in our communities", upon the company's announcement.[6]

Projects

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In 2023, some projects were announced to be connected to the company:[6][9][16]

See also

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References

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  1. ^ "Economy secretary launches publicly-owned energy developer for Wales".
  2. ^ a b Thomas, Simon (2016-12-07). "'Ynni Cymru' and an energy-efficient Wales". Institute of Welsh Affairs. Retrieved 2023-11-01.
  3. ^ "Items at meetings - NDM6735 Plaid Cymru debate - Establishing a publicly owned energy company". business.senedd.wales. 2021-06-14. Retrieved 2023-11-01.
  4. ^ Hudson, Jack (6 April 2021). "Plaid Cymru promises power to the people with plan for national energy company". The National (Wales). Archived from the original on 17 April 2021.
  5. ^ "Time to explore publicly-owned energy company for Wales, minister says". South Wales Argus. 2021-10-14. Retrieved 2023-10-31.
  6. ^ a b c d e f "Ynni Cymru: New Welsh company to help get green energy off ground". BBC News. 2023-08-07. Retrieved 2023-10-31.
  7. ^ "Climate: Wales to set up publicly-owned renewable energy firm". BBC News. 2022-10-25. Retrieved 2023-11-01.
  8. ^ Williams, Rhys (2022-10-26). "Publicly-owned energy company being set up by Welsh Government". Caerphilly Observer. Retrieved 2023-11-01.
  9. ^ a b c d "Publicly owned energy company launched in Wales". Sky News. Retrieved 2023-11-01.
  10. ^ Bagnall, Steve (2023-08-07). "Publicly-owned energy company for Wales launched on Anglesey". North Wales Live. Retrieved 2023-11-01.
  11. ^ "Ynni Cymru will unlock Wales' green energy potential | GOV.WALES". www.gov.wales. 2023-08-06. Retrieved 2023-10-31.
  12. ^ Hatmaker, Julia (2023-08-08). "Wales launches publicly-owned renewable energy company". Place North West. Retrieved 2023-11-01.
  13. ^ Williams, Rhys (2023-08-07). "Publicly-owned renewable energy company launched by Welsh Government". Caerphilly Observer. Retrieved 2023-11-01.
  14. ^ Mansfield, Mark (2023-08-07). "New publicly-owned energy company for Wales launched". Nation.Cymru. Retrieved 2023-11-01.
  15. ^ "Ynni Cymru will unlock Wales' green energy potential". Business Wales. Retrieved 2023-10-31.
  16. ^ Jones, Polly (2023-08-09). "Welsh Government launches publicly owned energy company". Government Business. Retrieved 2023-10-31.
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