Wales will create a state-owned renewable energy development company. The move followed earlier targets to have more than one gigawatt of locally-owned generation by 2030.

Julie James the Minister for Climate Change announced the move on 25 October in response to “energy insecurity, the cost-of-living crisis and the increasing threats posed by the climate and nature emergencies”.

A spokesperson for the Welsh Government said that the new state-owned energy developer would scale up renewable energy rollout, initially through the development of onshore wind projects on the Welsh Government woodland estate.

James added, “This is an historic moment for Wales. The cost-of-living crisis is directly related to the major increase in the cost of energy, which strengthens the need for an approach that returns more to the people of Wales.

“If other countries are anything to go by, then we should expect considerable returns from our investment and – as we share the ambitions of these other nations – we have a genuine opportunity to produce an income that will really help us to deliver here. We are taking positive action to ensure we deliver on our net zero commitments in ways that benefit our communities.”