A Cypriot-owned renewable energy company has unveiled plans to invest £685 million in a Centre of Renewable Energy Excellence in Milford Haven, creating around 560 jobs in the process.

The plans by Egnedol Limited would make Pembrokeshire an international standard-bearer for cutting-edge clean energy technology, the company said.

Egnedol Limited has purchased the former Gulf refinery at Waterston and the RNAD Blackbridge site.

It proposes to build a renewable energy facility for converting biomass into clean biogas which would then be used to either produce green electricity or green liquid fuels.

Egnedol also plans to partner with the leading Universities in Wales and the European Union to build a research and development facility on-site to advance new and existing sustainable technologies.

Heat from the process will be captured and used in a host of food production businesses at the site including a prawn farm, fish farm, cheese factory, mushroom farm, algae production unit and greenhouses.

The proposed facility will receive the biomass by ship via a jetty on the site, therefore, avoiding increase in road traffic.

The company said more indirect jobs will be created, as existing local companies will be employed to provide the resulting food product packaging and distribution.

Egnedol will be presenting its plans for the development in the next week and is preparing a public exhibition to be set up within the next month.

Egnedol representative, Phil Johns, said the company is keen to engage with the local community: “We believe our proposal for a clean energy facility at Blackbridge and Waterston has the potential to place Milford Haven at the heart of one of the most exciting growth industries in the world – renewables – bringing much needed jobs and inward investment to Pembrokeshire. We want to inform local residents about our plans, get feedback and gather opinion to help ensure that any issues or concerns are taken in to consideration.

“Alongside the creation of direct and indirect jobs, the facility will place our region at the forefront of clean, renewable energy. The research and development unit will also become a key resource for furthering our knowledge and skills-bank of future energy solutions, advancing new technologies and developing specialist professionals to work in a rapidly growing industry.”

The Leader of Pembrokeshire County Council, Councillor Jamie Adams, welcomed the plans: “I’m very pleased that a new, exciting use has been found for the former RNAD Blackbridge site. Subject to planning, this will create many much-needed jobs in the area.”

Egnedol is focused upon the creation of sustainable energy facilities. Their innovative approach to green energy production promises to reduce the global carbon footprint of energy production. Subject to appropriate consents and market conditions the intention is to increase the investment at the Milford Haven site over the next five years potentially to £1.6 billion.

Preseli Pembrokeshire MP Stephen Crabb gave the plans a cautious welcome.

He told the Western Telegraph: “It’s early days but there’s no question that this is a potentially exciting development for Milford Haven and the Pembrokeshire economy.

“The Blackbridge site has stood redundant for too long and it does lend itself to an energy-related development.

"I look forward to discussing further details about the proposals with Egnedol and I hope that there will be a sustainable business forthcoming that can gain the support of the local community.”