The Welsh Government is not in a position to deliver the scale of co-investment needed to help Tata Steel decarbonise its steelmaking operations in the UK, Economy Minister Vaughan Gething has said.
Tata Steel is currently in talks with the UK Government regarding what financial aid can be agreed to help it decarbonise its steel operations in Port Talbot. One of Port Talbot’s biggest current challenges is the cost of decarbonisation, yet rising energy prices and uncertainty over UK Government financial aid have put the future of Tata’s UK plant into doubt.
The steelmaker has called on Westminster to provide £1.5bn to help it reduce its carbon emissions as part of a £3bn green investment strategy. So far, UK Government Ministers have offered £300m to help Tata Steel subsidise, upgrade, and decarbonise its operations.
