Menards to buy 50-70MW plant in Wales
Menards will buy 50 to 70MW of renewable energy in Wales from the Welsh Government and invest $15m in renewable energy projects, the company said on Monday.
The Welsh Government has agreed to buy 20MW of energy from Menards for its own use.
The investment will see the company invest up to $15 million in renewable projects and build another 10MW in Wales, Menards said.
Menards will also invest up $5m in its existing renewable energy facilities.
“It is important to note that the investment will only apply to renewable energy capacity, and will not apply to other forms of renewable generation, such as geothermal, wind, solar or biomass,” the company added.
In January, Menard was forced to withdraw from a £15m project to build a £2.8bn plant in the Welsh valleys to power an 800MW power plant, after the government announced that it was withdrawing support from the project.
Despite the company withdrawing, the Welsh government was also looking at the plant’s development, with Menards being the preferred bidder.
It said in January that the government would consider bidding again in 2019, after agreeing to a similar deal for another £2m in 2020.
“The Welsh government will work with Menard on the project in the context of a new strategic partnership,” a Menards spokesperson said in a statement.
“The Welsh and Scottish governments are committed to working together in a strategic partnership to develop the best renewable energy options for the UK.”
We have already committed a further £10m in investment to help meet the UK’s energy needs and we are committed that we will continue to invest in renewable technologies across the UK.”
Menard has been a big supporter of renewable power in the UK and is the world’s largest supplier of water piping and water heating equipment.
A report by the UK government in March suggested the Welsh plant would help to reduce energy costs, which would then allow the Welsh to compete with German energy giants E.ON and NRG.
“It has been under construction for many years. “
[The plant] is not a new project for Menards,” the spokesman said.
“It has been under construction for many years.
Menards has been investing in renewable generation for over 60 years.
It is in the planning phase for the plant.
Welsh Water Group is in discussions with Menarts on the potential for the company to build up to 80MW of capacity in Wales.”
In April, Menands announced that an investment of £1.5bn in renewable power projects in the region would boost the Welsh economy by more than £1bn a year.