An estimated £364.8 million has been invested in Wales’ marine energy and offshore wind sectors since 2015, supporting almost 2,000 jobs across the country.
Data gathered by Marine Energy Wales reveals most of this investment has been directed towards developing Wales’ supply chain and tidal stream industry. It includes spending on port infrastructure and manufacturing facilities to strengthen the country’s capacity for large-scale renewable energy deployment.
North Wales recorded the highest level of investment activity, with £114.5 million invested in Anglesey alone, the highest of any Welsh local authority. This has been driven by the Morlais tidal demonstration zone and its berth holders.
Meanwhile, South Wales accounts for over half of the sector’s Welsh employment, with the largest concentration of jobs in Cardiff.
Marine Energy Wales’ State of the Sector Report 2026 analyses investment and economic data from its membership, highlighting the sector’s growth and showcasing Wales’ progress in establishing itself as a leader in marine renewable energy.
One of the UK’s fastest growing industries, the sector is now clearly progressing from early-stage innovation toward commercial scale deployment.
With offshore wind projects progressing in both the Irish and Celtic Sea, and the first commercial tidal stream deployments at Morlais in North Wales expected in 2027, the potential future pipeline for Wales is substantial.
Tam Bardell, Chair of Marine Energy Wales, said Wales, for the first time, is beginning to realise its potential.
He said:
“Wales is proving to be a credible and competitive location for both tidal stream and offshore wind, and against a backdrop of continuing global energy shocks, the sector is moving towards delivery.
“Projects like Morlais tidal demonstration zone are moving toward first power, while offshore wind in North Wales is accelerating and the Celtic Sea is progressing from test and demonstration to gigawatt-scale development. These are not incremental steps; they represent a step change in ambition, scale and impact.
“At Marine Energy Wales, we act as both facilitator and advocate, bringing together the organisations that make this sector work, ensuring Welsh voices are heard in national decision-making, and helping translate opportunity into delivery.
“There is still much to do. But for the first time, Wales is not just discussing its marine energy potential; we are beginning to realise it.”
KEY FINDINGS
- Since 2015, total investment within Wales’ marine energy and offshore wind sector reached an estimated £364.8 million.
- 40% of the total investment recorded relates to supply chain development. This includes spending on port infrastructure and manufacturing facilities.
- Anglesey recorded the highest spend per county at £114.5 million. This investment is largely driven by the Morlais tidal demonstration zone.
- 1,947 jobs have been supported by the sector to date. 36% relate to construction, representing the significant infrastructure build-out at ports and test facilities over the last decade.
- South Wales currently accounts for over half of the sector’s Welsh employment, with most jobs in Cardiff.
- The sector’s growth prospects remain substantial, with offshore wind projects progressing in both the Irish and Celtic Sea, and the first commercial tidal stream deployments in North Wales expected in 2027.
Access the report here.
