Key Insights from Future Energy Wales 2024: Shaping the Future of Renewable Energy in Wales

Once the birthplace of the industrial revolution, Wales is now positioned to lead a new era defined by clean, sustainable energy derived from its abundant natural resources: the sun, wind, and tides. This ambitious vision is not only about powering homes and businesses but about shaping a cleaner, greener future for communities in Cymru and across the UK.

Last month, TouchstoneEnergy attended the Future Energy Wales 2024 conference held by RenewableUK. It was an incredibly insightful event that showcased the vast economic opportunities and strategic partnerships driving Wales toward a renewable future.

With renewable energy at the core of this transformation, the event emphasised the critical need for innovation and robust infrastructure to meet Wales’s goal of quadrupling wind power capacity—both onshore and offshore—over the next decade states, as stated by RenewableUK Cymru.

In this blog, we explore key insights from the event and demonstrate how HxGN EAM (Enterprise Asset Management) plays a crucial role in supporting organisations to optimise performance, minimise risks, and confidently navigate the renewable energy revolution.

Celtic Sea Power is a Cornwall Council-funded initiative dedicated to unlocking the vast potential of floating offshore wind in the region. Focused on the sustainable development of Floating Offshore Wind (FLOW), Celtic Sea Power is committed to harnessing this once-in-a-generation economic opportunity to benefit Cornwall and the wider Celtic Sea area. Their ultimate goal is to maximise the social and economic advantages of FLOW and other low-carbon energy initiatives, driving sustainable growth and innovation in the region.

A highlight of the event was learning more about this ambitious offshore wind farm project planned for the Celtic Sea, stretching from South Wales to the Southwest of England. This initiative has the potential to reshape the UK's renewable energy landscape. Here are the key highlights:

• Offshore Wind Development: Multiple power generators are competing for development rights under The Crown Estate’s Round 5 leasing program. This effort aims to produce an initial 4.5GW of power, with a visionary goal of reaching 12GW by 2040.
• Turbine Construction: The turbines, to be manufactured in Avonmouth, Bristol, will stand an impressive 300 meters tall. This initiative promises significant regional benefits, including the creation of up to 5,300 onshore jobs.
• Hydrogen Innovation: Celtic Sea Power has secured £877K in funding from Innovate UK’s Launchpad: Net Zero Industry Program to deliver the £2.1m Milford Haven: Hydrogen Kingdom project. This initiative will play a critical role in industrial decarbonisation, leveraging hydrogen to unlock the full potential of floating wind and marine energy systems.

Milford Haven: Hydrogen Kingdom

Green GEN Cymru is spearheading a transformative initiative with an investment exceeding half a billion pounds to develop an advanced green energy distribution network. This bold commitment to delivering 100% renewable energy to homes, hospitals, schools, businesses, and communities across Wales marks a significant step toward a sustainable future.

As we transition away from fossil fuels, the future of energy generation will depend on harnessing sustainable sources like wind, tidal, and solar power. However, the infrastructure must evolve rapidly to accommodate these changes.

In Mid Wales and Shropshire, the existing electricity grid lacks the capacity to integrate new renewable energy projects. To ensure the UK meets its renewable energy targets and addresses the climate emergency, building new infrastructure is essential—and it must happen swiftly.

Green GEN Cymru's Vyrnwy Frankton Connection project is a vital part of this evolution. It will enable renewable energy generated from new parks to power homes and businesses locally, and across the UK. This initiative is more than just a technical upgrade; it’s a steadfast commitment to a cleaner, greener future for all.

By building and maintaining a reliable green energy network, Green GEN Cymru is addressing some of the most urgent challenges of our time—the energy crisis, the climate crisis, and the cost-of-living crisis. Beyond sustainability, the company is fostering economic growth by investing in rural communities, creating jobs, and equipping individuals with the skills needed to thrive in a modern, electrified world.

“Wales’ grid infrastructure is not fit for purpose. It is holding back renewable energy development. It requires investment, reinforcement and upgrading.”

Senedd Climate Change, Environment and Infrastructure Committee

The conference also featured a keynote address by Welsh First Minister Eluned Morgan, who underscored the strategic importance of the Celtic Sea wind farm. Declaring it a national priority, she emphasised the urgency of advancing renewable energy to meet climate targets and secure a sustainable future.

"I want to prove Wales is a good place to invest. Wales needs your industry and we're keen to see planning decisions made more quickly,"

Eluned Morgan, MS, First Minister of Wales

The event showcased the immense potential of renewable energy projects to drive economic growth, create jobs, and pave the way for a sustainable future. The key takeaway for businesses, policymakers, and innovators was clear: unlocking this potential requires collaboration and cutting-edge technological innovation.

At TouchstoneEnergy, we are committed to supporting these transformative initiatives with advanced solutions like HxGN EAM (Enterprise Asset Management). EAM is a crucial tool for achieving the operational excellence necessary to meet the demands of the rapidly growing renewable energy sector.

Leveraging EAM empowers organisations to drive optimal performance, minimise risks, and ensure long-term resilience. By adapting to the evolving needs of the renewable energy sector, EAM supports scalability and helps build reliable, sustainable energy systems that will power a cleaner, greener future. This approach not only secures operational success but also contributes to a more sustainable world for all.

Interested in how our dedicated team can support clients in the Renewable energy sector with implementing Hexagon's Enterprise Asset Management software? Reach out to the TouchstoneEnergy team today at info@touchstoneenergy.co.uk.