The Welsh government has begun a public consultation on plans to create a new renewable energy company, which would develop and own wind and solar power projects. The initiative, led by the Plaid Cymru party, aims to reduce energy costs in the long term, though the company would not directly control energy prices or replace existing energy suppliers. The consultation document clarifies that the new company would support local communities in taking ownership stakes in renewable projects. The proposal has drawn criticism from the Welsh Conservatives, who question its economic impact. The Welsh government already owns a renewable energy company called Trydan Gwyrdd Cymru (TGC), which focuses on onshore wind and solar power. The proposed new company would combine TGC with other existing energy initiatives, including Ynni Cymru, a program aimed at expanding locally-owned renewable energy. Enterprise Minister Adam Price told BBC Radio Wales that the government wants an energy system that is "clean, cheap and owned by us." The consultation asks whether TGC should form the core of the new company and whether it should keep its name or be called Ynni Cymru. It also suggests the company could invest in larger projects such as offshore wind, marine energy, and nuclear power. As part of the proposal, a Welsh Energy Wealth Fund would be created to ensure that energy projects support vulnerable communities and those living near the projects. Price emphasized that Wales, once a major energy producer during the Industrial Revolution, failed to benefit its people from coal, and he warned against repeating that mistake with renewable energy. He believes the new company could help ensure that the benefits of renewable energy are shared more widely across Wales. During the 2026 election campaign, Plaid Cymru pledged that renewable energy projects would need to offer local communities a share of their profits if approved by a Plaid-led government. The party faced criticism from Labour for allegedly opposing green energy infrastructure, including the installation of power lines. Plaid Cymru had previously promised to prioritize underground power lines and the use of wooden poles when necessary. In response, Welsh Conservative energy spokesperson Janet Finch-Saunders criticized the proposal, arguing that the government's focus on new state-owned companies and renewable projects risks losing manufacturing jobs and increasing energy costs for households and businesses.