Huw ThomasWales business correspondent

Reuters
A new facility in Port Talbot will allow wind turbines to be assembled and launched out to sea
Port Talbot will become the first dedicated hub for floating offshore wind in the Celtic Sea.
Associated British Ports (ABP) will begin detailed design and engineering work on new port infrastructure after securing grant funding of up to £64m from the UK government.
The project will support the assembly and deployment of floating turbines that will operate in deeper waters off the Welsh coast.
ABP said the development could support thousands of jobs and attract hundreds of millions of pounds in further investment.
The UK government said the new port would help deliver clean, homegrown electricity, protect households from volatile fossil fuel markets and create up to 5,000 new jobs.
Redeveloping the port to handle the assembly of wind turbines should position Port Talbot at the centre of a fast-growing clean energy sector.
Floating offshore wind technology allows turbines to be installed far further from the shore than traditional fixed bottom structures - opening up areas of the Celtic Sea that are regarded as having some of the best wind resources in Europe.
The design work in Port Talbot is the first stage in creating the infrastructure needed to handle, assemble and launch giant floating turbine platforms.

Associated British Ports
An computer-generated image of the dedicated hub for floating offshore wind in Port Talbot
ABP chief executive, Henrik Pedersen, said: "This development would drive industrial regeneration, support thousands of skilled jobs and ensure Wales and the UK captures the full economic benefit of this emerging sector."
The new facilities in Port Talbot will help unlock at least 4.5 GW of new generating capacity, enough to power around 6.5 million homes, and follows last year's seabed leasing round in the Celtic Sea.
ABP expects the project to support thousands of direct and indirect jobs once construction begins, with the company estimating it could unlock more than £500m in associated investment.
It said business groups had previously argued that securing a major offshore wind port would be central to attracting new industries and supply chain companies to the area.
A UK government transition programme has also been set up to support workers, businesses and the wider community affected by changes at the steelworks.

Reuters
A restructure at the nearby steelworks led to wider efforts to support workers and businesses in Port Talbot
"Port Talbot will be the forefront of a pioneering new clean energy industry," said a UK government spokesperson.
Labour Welsh secretary, Jo Stevens, said it was a "significant moment for Port Talbot and a major step forward for the growing clean energy industry in Wales".
"This investment will further cement Port Talbot as a hub of the industries of the future, and heralds the next chapter of jobs and investment to the area."
She added that clean steelmaking, the development of the Celtic Freeport and the expansion of floating offshore wind meant Port Talbot was firmly at the heart of south Wales's growing clean energy economy, supporting thousands of new, high-quality jobs and helping deliver Britain's clean power mission.
Grant arrangements for the port development have been agreed between the UK government and ABP, with the release of funding still subject to regulatory checks and final approvals.

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