Marine Energy Wales welcomes today’s confirmation of a £160 million pound scheme to support port infrastructure projects, as part of a raft of measures announced on ‘Energy Security Day’.
The UK Government’s plans to scale up affordable, clean, homegrown power in the drive to net zero also include a proposal to speed up the planning process for offshore wind projects to attract investment.
Last week two Welsh freeport bids – Celtic Freeport at Milford Haven and Port Talbot and Anglesey – were given the green light by the UK and Welsh Governments, with the promise of creating 20,000 jobs and investment worth £5bn to Wales.
Floating offshore wind (FLOW) will become the backbone of our future energy system, requiring 50GW of installed capacity by 2050. Half of that is anticipated to come from the Celtic Sea, heralding an epic transformation of our coastal region and delivering long term economic, social and environmental benefits for decades to come.
Marine Energy Wales estimates our ports need up to £2 billion in investment in order to deliver on our floating offshore wind ambitions and ensure large-scale wind farms are built, deployed and maintained from UK ports.
Tom Fabian, FLOW Project Manager for Marine Energy Wales says:
“We are delighted with today's result. Ports are a large piece in the jigsaw for Welsh delivery of a Floating Offshore Wind Industry. It's our hope that this investment will provide clear signal that the government is serious about developing this sector, stimulating private investment so that we can capitalise on this once-in-a-generation opportunity for Wales.
“We will now be looking to see a strong Regional Development Strategy to ensure Government support is balanced across the North and Celtic Sea.”