Plans to establish Wales' pioneering floating wind sector reached a disappointing standstill last week as the recent crucial government auction failed to attract any bids from developers.
The government had anticipated that the latest auction round would initiate the groundwork for expanding the offshore energy production capacity by an additional five gigawatts. However, the industry abstained from participating, citing the government's guaranteed minimum electricity price of £44 per megawatt hour as insufficient, in light of the escalating costs they are confronted with.
Following the disappointing news that major projects such as Erebus, will now be delayed by one year, a period of reflection and recalibration will be discussed in a new panel discussion series hosted by Business News Wales.
This Tuesday leaders from across the offshore floating wind sector will discuss the logical next steps for an industry which is undoubtedly feeling bruised. The session will be hosted by former first minister Carwyn Jones, with guests including Tom Sawer CEO of the Port of Milford Haven, Manon Kynaston, Assistant Director of RenewableUK Cymru and Cian Conroy, Head of Development, Floventis.
The potential delay of the Erebus project is poised to significantly impact the Welsh supply chain and ports, casting a negative light globally.
Initially, the Erebus offshore wind farm was touted as a groundbreaking initiative that could foster an industry offering as many as 10,000 job opportunities
The big question is what next? Will the sector continue to point the finger, or will it come together with renewed enthusiasm and ambition to accelerate the pace of reindustrialisation in South West Wales?