A clutch of sites off the coasts of Cornwall and Pembrokeshire have been identified where floating windfarms could be built in the Celtic Sea.
The crown estate, which generates revenue for the Treasury and the royal family, has reportedly identified five "areas of search" for wind power development plots, which will go up for auction next year.
These are areas between Wales and Cornwall where wind resources are abundant, according to the Queen's property manager, which said a technical analysis and engagement process led to site identification.
In mid-2023, a tender process will be launched to offer the project development areas to businesses.
It is anticipated that these areas will produce 4 gigawatts (GW) of floating offshore wind power by 2035, enough to power almost 4mln homes.
Research by the crown estate estimates that a further 20 gigawatts of offshore wind capacity could be installed in the Celtic Sea by 2045, with the crown estate noting the areas take into account navigation routes, fishing activity, and environmental concerns.
"We already have the largest offshore wind deployment in Europe. Floating technology is key to unlocking the full potential of our coastline," said Greg Hands, energy and climate change minister.
"We want to deliver up to 5GW of floating offshore wind by 2030. These projects can help power millions of homes with clean, and cheaper, renewable energy, reducing reliance on expensive fossil fuels."
"The Celtic Sea has the potential to become one of the great renewable energy basins of the world, bringing economic growth and abundant clean power," said Huub den Rooijen, managing director marine at the Crown Estate.
"This leasing round is a first step, and we need to work together to bring technology costs down, deliver environmentally sound solutions and respect the needs of the many other users of the marine space."