Unleashing the Full Value of Welsh Renewables

‘Unleashing the Full Value of Welsh Renewables’ – A major new report by RenewableUK Cymru in collaboration with Solar Energy UK, and Marine Energy Wales launched today at the Senedd. 

“Large-scale renewable energy is one of the clearest and most immediate opportunities to deliver lasting, transformative benefits for Wales, from creating high-quality jobs and economic growth to securing direct investment into local communities and boosting energy security. “ 

The report is the most complete national assessment to date of the full economic, social and environmental value of all renewable technologies to 2035. It models three distinct economic scenarios for the future of renewables in Wales – Current Targets, Increased Ambition, and Maximising Renewables.  

Backed by rigorous analysis from BiGGAR Economics, the research reveals that by embracing an ambitious renewables strategy, Wales could deliver: 

• 17.9GW of installed renewable capacity 

• £46.9 billion in private investment, with over £10 billion flowing to Welsh businesses 

• Nearly 8,000 skilled, high-paid jobs with salaries 26% higher the Welsh average. In urban and rural communities — in every part of Wales. 

• Almost £2 billion in tax revenue to support public services, with onshore wind the highest contributor to local authorities. 

• £183 million in direct community benefit funds for local initiatives 

• 13 million tonnes of CO2 emissions saved by 2035 – the equivalent of taking almost 10 million cars off the road. 

How does marine energy fit into the picture? 

Both offshore wind and tidal energy are discussed at length within the report. Key figures include marine energy (offshore wind and tidal stream) accounting for 47% of the average GVA and 51% of jobs within the Maximising Renewables economic scenario. By 2030, the investment in offshore wind projects could total £32.4 billion, of which Welsh businesses could secure £4.8 billion. Tidal stream projects could attract £2.9 billion in investment, of which Welsh businesses could secure £1.1 billion.  

Tidal stream activity and offshore wind projects also identify port locations as key epicentres of economic activity. These developments drive investment in port infrastructure and support activity across wider marine economies. Section 5 of the report highlights how these projects also support employment in professional services – typically clustered around major cities in South East and South West Wales, particularly Cardiff. 

Due to the diversity of technologies and their geographic spread, the Maximising Renewables scenario estimates average annual economic impacts of: 

• £199 million GVA and 2,740 jobs in South East Wales 

• £162 million GVA and 2,400 jobs in South West Wales 

• £94 million GVA and 1,220 jobs in Mid Wales 

• £119 million GVA and 1,620 jobs in North Wales 

 North Wales will see direct benefits from tidal stream activity, while Mid Wales is poised to benefit from growth in onshore wind. The South of Wales will benefit from offshore wind development and an uptick in professional services roles. 

Offshore wind projects also offer a nature-positive impact. Turbine foundations can act as artificial reefs, attracting marine life and enhancing biodiversity. These benefits can be strengthened by incorporating nature-inclusive designs, such as scour and cable protection that support reef development. Thoughtful design of tidal stream devices can minimise ecosystem risks – environmental monitoring to date has shown no evidence of marine life collisions, with species like seals demonstrating avoidance behaviours during peak flows. 

To support these opportunities, significant investment in port infrastructure, facilities, and available space is crucial to encourage activity and inward investment. Under the right conditions, ports act as economic anchors and hubs for both local and international businesses. With a clear project pipeline, private sector funding, and continued backing from Welsh and UK governments, Wales’s ports are well-positioned to play a pivotal role in Wales’ renewables decade of delivery. 

Marine Energy Wales Programme Manager, Tom Hill, said: 

“This report shows what those of us working in marine renewables have long known — that offshore wind and tidal energy can deliver not only clean power, but real economic transformation for Wales. From revitalising our ports to creating thousands of well-paid jobs, marine energy is already laying the foundations of a fairer, greener economy. 

But we can’t unlock this potential without the right infrastructure, investment and political backing.” 

Director of RenewableUK Cymru, Jessica Hooper said: 

“The analysis makes clear that only by pursuing the most ambitious pathway can Wales fully realise the economic and societal benefits on offer for investment, job creation, community wealth-building and nature restoration. This isn’t just another report — it’s a call to action. 

“This is an opportunity too big to ignore — or to delay. We must invest in grid infrastructure, ports, skills, and planning systems to capture this opportunity before it slips through our fingers.” 

Supporting the report launch, Eluned Morgan, First Minister of Wales, said: 

“Scaling up renewables is not just about hitting climate targets, it is a major economic opportunity for Wales. 

“We have the natural resources, industrial capability and talent to become a world leader in renewable energy, but to seize that opportunity we must be bold. Unlocking our full renewable energy potential means powering a new era of green growth, skilled jobs and shared prosperity in every part of Wales. This report makes clear the size of the prize. With the right policies, investment and political will, Wales can lead, and we intend to.” 

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