The company launched in August 2023, and it aims to support investment in Welsh community-owned renewable energy generation, although its full responsibility in the projects it funds are still to be determined.

The party proposed it should be based in Anglesey and be a national not-for-dividend arms-length "project development company" of the Welsh Government.

[6] In October 2022, the Welsh Government announced it would it make efforts to establish the company, as part of the co-operation agreement.

The main aim of the company is to support investment in community-owned renewable energy generation in Wales.

[15] On launch, the Welsh Conservative Shadow Climate Minister Janet Finch-Saunders welcomed the proposal, but also urged restrictions be lifted on private individuals developing local hydro power on their land.