New report highlights value of renewables in Wales

A new report has highlighted the potential for large-scale renewable energy to deliver lasting and transformative benefits for Wales, if the country quickly scales up all forms of generation. 

RenewableUK Cymru’s report: Wind, Solar and Tidal Stream: Unleashing the Full Value of Welsh Renewables, which was supported by Statkraft, highlights the potential for 17.9GW of installed renewables capacity, which would mean up to £46.9bn in private investment. Over £10bn of that would be made directly into Welsh businesses. 

The landmark socio-economic impact report brings together comprehensive data from wind, solar, and tidal stream energy to highlight the full economic, social, and environmental value of the Welsh renewables sector. 

It found that fully realising the potential of Wales would lead to almost 8,000 highly-paid skilled jobs, with salaries a quarter higher than the average, and spread across both urban and rural communities in every part of Wales. This would also deliver almost £2bn in tax revenues, and contribute some £183 million in direct community benefit funds for local initiatives. 

Statkraft has a significant presence in Wales. The Rheidol Hydropower Scheme, near Aberystwyth, which marked its sixtieth anniversary in 2024, is also the location of Statkraft’s UK and Ireland Control Centre. Alltwalis Wind Farm, north of Camarthen, has been operational since 2009 and provides enough clean electricity to power the equivalent of 16,500 homes, as well as delivering a community benefit fund in excess of £1 million to local projects and initiatives.  

The start of construction at Swansea Greener Grid Park was marked by a visit from First Minister Eluned Morgan, at the end of 2024, and it will play a vital role in ensuring the electricity grid remains resilient and fit for the future. Statkraft are in the process of developing Lluest y Gwynt Wind Farm, east of Aberystwyth, which has the potential to power the equivalent of 33,000 homes. 

Plans for Alleston Solar Farm, near Pembroke, were submitted to Planning and Environment Decisions Wales in December 2024. If consented, the scheme would have the capacity to power the equivalent of 14,000 homes.