CEO, Comtek Network Systems UK Ltd and chair The DBF

North Wales' potential to lead the world in Marine Renewable Energy (MRE) is looking like a real possibility.

The key requirement for entering the MRE technology sector is the region's geography, appropriate coastal conditions, waves, winds landscape, access to university research and an advanced manufacturing resource within the locality. North Wales is one of the few regions globally which possesses all of these requirements.

The North Wales Economic Ambition Board (six councils), after many years of hard work and challenges, ultimately successfully persuaded the UK and Welsh governments to award North Wales with £240m. This fund may not seem a lot but is a good basis on which to entice much larger private sector investment in the various projects which will transform North Wales' economy for good.

Since the approval of the award by both governments on December 17, 2020, the NWEAB wasted no time and energetically pushed forward with the most crucial technology-based projects. All the projects are examined and scrutinised by the NWEAB's private sector arm, the Business Delivery Board, for their viabilities.

Morlais Marine Renewable tidal energy (https://www.morlaisenergy.com/) is to be delivered by a social enterprise organisation called Menter Mon (https://www.mentermon.com).

This project was scrutinised twice by the expert members of the private sector team. This project will be world-leading, utilising North Wales manufacturing and engineering.

It will also involve our Welsh universities and a Marine Renewable Energy research organisation called Selkie Project. It will eventually produce 240MW of green energy for our homes, vehicles and industries.

The Morlais project is already attracting investors and turbine developers from the UK and overseas.

It will not only provide high-skilled employment but will also link to the development of a large Green Hydrogen fuel production hub in Anglesey.

They are already actively encouraging locally-based supply chains. Businesses can register their interest in participating as suppliers by emailing: admin@deesidebusinessforum.co.uk.

North Wales Tidal Lagoon (https://www.northwalestidalenergy.com/concep) is another possible grand Marine Renewable Energy project concept being pushed forward by the private sector. This project will bring about £7bn investment to North Wales if it is supported by the UK and Welsh governments.

The private sector investment in our offshore wind farms is growing continually. Besides the Marine Renewable Energy projects, North Wales has the largest solar farm installations and investment in the UK.

The potential for North Wales to become a global magnet for research and development and a test hub for the latest MRE innovations is looking very real. North Wales will become, within the next 10 years, one of the world's largest renewable energy producers, as long as both the UK and Welsh governments realise this great, rare opportunity and support our local leaders and the private sector to deliver.