Energy developer Simple Blue Energy and Total are working together to develop floating wind turbines in the Welsh waters of the Celtic Sea.
The joint venture follows Committee on Climate Change guidelines suggesting that the UK would require at least 75GW of operating offshore wind capacity to reach the net zero target in 2050.
Consulting firm Catapult estimates the first project, called Erebus, could potentially deliver 3,000 jobs and £682 million in supply chain opportunities for Wales and Cornwall over the next decade.
Patrick Pouyanné, Chairman and CEO of Total said: With its entry into floating offshore wind, Total confirms its ambition to contribute to the development of renewable energy worldwide.
Floating offshore wind is an extremely promising and technical segment where Total brings its extensive expertise in offshore operations and maintenance.