Wales has granted approval for the first floating wind farm to be built off its shores, opening the door for TotalEnergies SE (NYSE:TOT, EPA:TTE) and Simply Blue Group to start producing electricity in 2026.
Initially, seven “next generation” floating turbines will be put in place off the coast of Pembrokeshire, enough to power 93,000 homes, according to the Welsh government.
Welsh first minister Mark Drakeford claimed the tech provided “a once-in-a-generation opportunity to open up new markets for local suppliers and to create thousands of high-quality jobs in Wales”.
The project, dubbed ‘Erebus,’ will eventually supply electricity to 4mln homes, though this could rise in the coming years, the government added, potentially becoming the first of many floating wind farms in the Celtic Sea.
Granting the license means TotalEnergies and Simply Blue Group can apply for subsidies from the UK government, prompting Drakeford to urge Westminster to “do its part” in granting contracts for difference (CfDs) to the prospective wind farm, which would set a fixed price for its power.
Project manager Mike Scott commented that the project would “play a crucial role in advancing the deployment of what will become a globally important low carbon technology”.