Launch of Celtic Freeport ‘vital’ for economic growth and clean energy

CELTIC FREEPORT AT MILFORD HAVEN AND PORT TALBOT TO DRIVE UK ECONOMIC GROWTH MISSION THE CELTIC FREEPORT has been officially launched, bringing significant inward investment to South West Wales and taking a major step towards creating thousands of new jobs, the Welsh Government announced this week. It also re-affirmed its commitment to GBP26 million of UK Government investment.

The freeport, covering the ports of Milford Haven and Port Talbot, is set to play a crucial role in the UK's clean energy future. It spans multiple industries, including clean energy developments, fuel terminals, power generation, heavy engineering, and the steel sector.

Businesses operating within the freeport area will benefit from substantial UK and Welsh Government tax breaks and customs exemptions to encourage investment. The initiative is expected to attract GBP8.4 billion in private and public investment, generate 11,500 new jobs, and contribute GBP8.1 billion in economic value (GVA) to the region.

The freeport was launched at an event in Cardiff, attended by Secretary of State for Wales Jo Stevens and Rebecca Evans, Cabinet Secretary for Economy, Energy and Planning.

"Significant step towards a renewable energy superpower"

Jo Stevens, Secretary of State for Wales, said: "This Government has a Plan for Change focused on delivering economic growth and ensuring the UK becomes a renewable energy superpower. This announcement is a significant step towards achieving those ambitions. "The Celtic Freeport will create up to 11,500 well-paid, highly skilled jobs and could leverage up to GBP8.4 billion in investment.

"The UK Government has committed GBP26 million to the freeport, alongside significant incentives from both the UK and Welsh Governments.

I am very pleased to see two governments working in partnership to deliver for the people of Wales."*

"A vital cog in the UK's low-carbon economy"

Rebecca Evans, Welsh Government Cabinet Secretary for Economy, Energy and Planning, said: "The official opening of the Celtic Freeport sends another clear signal to the world that the industrial heartlands of South Wales are a vital cog in the UK's low-carbon economy. "We are already seeing real enthusiasm across the region and beyond to capitalise on the skills and job opportunities that this new industrial age will provide. The Welsh Government will be at Celtic's side, offering major tax reliefs to attract business investment.

"The Freeport will also be able to use future non-domestic rates revenues to fund vital infrastructure and skills projects, benefiting Port Talbot and Milford Haven for generations to come."

Freeport projects already making progress

Following the successful launch, Luciana Ciubotariu, CEO of Celtic Freeport, highlighted the rapid progress of key projects: "The Celtic Freeport is making significant strides forward with milestones such as planning consents for LanzaTech's sustainable aviation fuel production plants, RWE's Pembroke Green Hydrogen plant, and the launch of the Milford Haven CO2 Project. "Other major developments include H2 Energy and Trafigura's West Wales Hydrogen project securing a hydrogen CfD, Haush establishing a green energy HQ, and the approval of wind turbine developments to expand Dragon Energy's Renewables Park. "These initiatives, alongside investments in battery energy storage by RWE and port infrastructure at Port Talbot, are accelerating South Wales' reindustrialisation and driving a decarbonised economy rich in evolving and new industries."

A cleaner, greener future

The Celtic Freeport aims to establish a green investment and innovation corridor, driving inward investment, skills development, and national decarbonisation.

Key focus areas include:

• Floating offshore wind (FLOW) in the Celtic Sea
• Hydrogen economy and sustainable fuels
• Carbon capture and storage
• Cleaner steel production
• Low-carbon logistics

As one of 12 Freeports across the UK, the Celtic Freeport will play a pivotal role in the UK Government's Growth Mission, supporting the transition to green industries and creating thousands of high-quality jobs for local communities.

(Cover image: Secretary of State for Wales Jo Stevens - Speaking at the Celtic Freeport event in Cardiff)