A renewable energy development hopes to help the UK meet its net zero targets and reduce the country’s reliance on foreign electricity suppliers.

The Bristol Port Company has announced it will be producing, assembling and deploying floating wind turbines in a new deep water terminal at Avonmouth Docks.

Set to be fully operational by 2030, the project will support the construction of three huge wind farms off the South West and South Wales coastlines.

The initial three wind farms will generate 4.5 gigawatts of renewable energy, which will nearly quadruple in future with the creation of more in the Celtic Sea.

It is predicted the project will create 5,300 on-shore jobs through the supply chain, including at Bristol Port, rising to 40,000 by 2040.

It is also predicted to give a £1.4bn boost to the national economy.

More than 260 turbines will be spread across the three sites, each 300m (984ft) tall, fixed on a floating platform the size of a football pitch.

They will be held in place by more than 1,000 anchors on the seabed, along with 200 miles (321km) of mooring lines and 500 miles (803km) of cables connecting them to the electricity network.

Announcing the latest stage of the project in August, Gus Jaspert, Crown Estate managing director for marine, said the UK’s offshore wind industry is a “global success story”.

“Floating offshore wind presents a new transformative opportunity for the country, the region around the Celtic Sea and the marine environment,” he said.

“As the need for new offshore wind capacity increases, we have challenged ourselves to find ways to accelerate its deployment.”

Net zero secretary Ed Miliband added: “Floating offshore wind is a world-leading technology that can play a vital role in our efforts to boost energy independence, create good jobs, and tackle the climate crisis.

“This, combined with over £1.5bn we’re offering through the next Contracts for Difference auction, will give developers the confidence to deliver here – and help us reach clean power by 2030.”