Associated British Ports (ABP) has welcomed the decision by the Department of Energy Security and Net Zero to advance the Future Port Talbot project to the Primary List phase of the Floating Offshore Wind Manufacturing Investment Scheme (FLOWMIS).
ABP’s Future Port Talbot project would see the port transformed into a major hub for the manufacturing, assembly, and integration of Floating Offshore Wind (FLOW) components for projects in the Celtic Sea.
According to the company, Port Talbot has the scale and technical capabilities to fully unlock the opportunity of Floating Offshore Wind in the Celtic Sea. It will also be able to act as a ‘hub’ for a wider network of ports across South Wales and the South West.
ABP intends to work at pace with Governments in London and Cardiff, as well as other organisations involved in the process, to take forward the Port Talbot development, incorporating the latest knowledge and experience of what in FLOW is a nascent industry.
ABP has also welcomed the decision to move forward with the FLOWMIS bid of the Port of Cromarty Firth to the Primary List phase. The company recently signed an agreement concerning parcels of land in the Cromarty Firth area and is investigating options for development to support FLOW and green energy development there.
The Port Talbot investment is part of ABP’s sustainability strategy, ‘Ready for Tomorrow’, launched in February 2023. The strategy sets out plans for ABP to invest £2 billion ($2.54 billion) into decarbonising its operations by 2040, as well as supporting large-scale green energy infrastructure and industrial decarbonisation projects.
These other projects include major green ammonia/hydrogen and CCS projects in the Humber and offshore wind projects in the Humber and East Anglia amongst others.
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Henrik L. Pedersen, Chief Executive Officer of Associated British Ports, said: “ABP is pleased that the UK Government is supporting the ambitious plan to transform the port of Port Talbot into a major hub for Floating Offshore Wind and green energy development.
“The FLOWMIS award, alongside significant ABP investment of more than £500 million ($634.5 million), will begin to unlock a projected £1 billion ($1.27 billion) of investment in Port Talbot and the surrounding area.
“This will develop a green economic hub supporting and creating nearly 10,000 jobs in South Wales and across the wider UK supply chain.”
“Today’s decision comes at a crucial time for Port Talbot and South Wales more broadly. The funding announced will help secure the region’s future as a hub of next-generation UK industry, providing thousands of jobs in the green economy right across the supply chain.”
Earlier this week, ABP reached an agreement with Fox Group (Fox) to acquire its ports in Fleetwood and Silloth, subject to regulatory approvals.
