1. ITV Report

'Underwater kite' energy project gets EU backing

Plans to develop a revolutionary tidal energy scheme off the North Wales coast have taken a step further, securing £9.5 million of EU funding.

The project, led by Swedish firm Minesto, will initially create around thirty jobs, with hundreds more in the long term in areas like manufacturing, and offshore operations.

The project's been described as the 'world’s first commercial tidal power project in low velocity currents' Credit: Minesto

The 'Deep Green' project will use underwater 'kite' technology to produce electricity for thousands of homes from tidal and ocean currents.

The kit weighs seven tonnes and is thought to be extremely cost-effective.

The proposed site in the southern corner of Holyhead Deep has been chosen to minimise impact on other sea users, and is separate from shipping lanes.

Work is due to start during the summer of 2017, and if successful Anglesey will become the hub for more 'Deep Green' exports to be sent around the world.

The project uses underwater 'kite' technology Credit: Minesto

I am delighted that our investment has helped pave the way for Minesto to set up its UK headquarters in North Wales. It will create high quality jobs in what is a rapidly expanding and important sector for Wales.

We have extensive raw wave and tidal energy resources along our shorelines, and this is an excellent example of commercial solutions being developed in Wales to help drive our potential to be a world-leader in the marine energy market.

– Carwyn Jones, First Minister

A public exhibition is being held on Thursday at Holyhead Town Hall, where members of the public will be able to meet Minesto staff and give feedback on the Deep Green development.