Chancellor Rishi Sunak is set to announce £4.8m for a hydrogen hub in Holyhead and that the 海角视频 Government is bringing forward investment in the North Wales Growth Deal.
The Chancellor is expected to announce at the Budget on Wednesday that funding will be provided towards a hydrogen hub pilot on Anglesey, subject to business case approvals.
The hub is to be developed by social enterprise Menter Môn, in partnership with Anglesey County Council. Scottish firm Logan Energy has secured the contract to support the delivery of the hub which has also been backed with Welsh Government funding for the technical designs.
The hydrogen production centre will be designed to produce and distribute green hydrogen made using renewables for use in HGVs, helping to decarbonise high carbon-emitting transport.
Ynys Môn MP Virginia Crosbie said: "I was elected on a promise to bring jobs and investment to an island hungry to be part of the green revolution this government is committed to and this is a major step forward.
“This is just the type of investment we need after years of decline and it shows that Anglesey can be right at the cutting edge of new industries going forward.
“I would like to thank the business secretary and the Chancellor for listening to my argument that Ynys Môn was the right place for this pilot to be located."
Menter Môn managing director Dafydd Gruffydd said: “This is excellent news and a huge boost to the project in Holyhead.
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"Our aim as we develop the site is to ensure Anglesey and the wider North Wales region are in a strong position to play a key part in this sector which offers so many opportunities in terms of jobs, skills development and the supply chain."
Mr Sunak will also announce that the 海角视频 Government’s £120m investment in the North Wales Growth Deal will now run over 10 years rather than 15.
This will mean an extra £4.4 million per year from 2021/22 for the remaining nine years of the Deal - rather than spreading the investment over 15 years. The total investment remains the same and £120m is also being provided from Welsh Government.
Cllr Dyfrig Siencyn, chair of North Wales Economic Ambition Board and leader of Gwynedd Council: "We welcome the acceleration in funding from the 海角视频 Government. This financial boost reinforces the commitment made and will enable us to move forward at an even greater pace.
"While no extra capital has been committed, receiving the £120m over a shorter time span will decrease borrowing costs and strengthen the foundations already laid while giving the Portfolio Management Office room to identify key areas that could be capitalised upon in order to bring forward priority projects.
"We look forward to further discussions with our colleagues in the 海角视频 and Welsh Governments in the months ahead."
The Mid-Wales Growth Deal will get an extra £1.8 million per year from 2021/22 for the remaining 10 years of the Deal as they bring forward investment of the £55m in that regeneration pot.
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Mr Sunak said: “These measures will help Wales pave the way to a greener future, create new high skilled jobs and build the infrastructure needed to drive growth in key sectors and build back better.”
Secretary of State for Wales Simon Hart said: “This planned package of measures from the Chancellor delivers for Wales as we build back better and greener from the coronavirus pandemic."
Ian Price, CBI Wales Director, said: “The Chancellor is committing to an investment in Wales’ green future with hydrogen and rail to the fore.
“Meanwhile, extra monies for the city deals will enable all parts of Wales to bring forward projects that will make a real difference to communities.
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“The 海角视频 government has stepped in to support business throughout the crisis and many firms will be looking for much of that to be extended into summer.
"If the economy is to snap back into shape, then Wednesday’s Budget will also need to incentivise businesses to get spending on jobs, skills and innovation.”
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