According to the Crown Estate, plans to create electricity from floating wind farms off the coast of South Wales could lead to thousands of new jobs.
According to the property business, which is owned by the monarch but runs independently, the new industry could create around 29,000 jobs in Wales.
It leases the space to produce enough power to power four million homes.
However, firms seeking to secure contracts through the plans have asked licensing authorities for a halt to any delays.
"It's a huge opportunity to create a sector in Wales or the UK," stated Nicola Clay, Crown Estate's Nicola Clay.
"This is going to happen. Interest is growing."
Most offshore wind farms in the UK were built on fixed foundations, and have been since then.
Floating wind farm can be installed in deeper waters than traditional offshore wind farms. This is because there is more wind at the coast of Pembrokeshire.
The wind turbines are float on huge steel structures that can be anchored or tethered to the seabed.
According to the Offshore Renewable Energy Catapult, the Crown Estate tenders will go out in summer 2023. They could inject PS43.6bn into UK's economy by 2050.
The Crown Estate licenses 40 miles of seabed, which could open up new opportunities for Wales.
Some 10,000 of the 29,00 jobs that will be created in Wales would be for building or running these sites.
Port Talbot, parts of Pembrokeshire and other areas have the deep ports and empty sites that the floating-wind industry would require.
It is essential to have large open areas, a deep port, connections to the electricity grid, huge amounts of steel, as well as the necessary manufacturing and construction skills.
The floating wind turbines are to be mounted on massive steel structures, which could be assembled at Pembroke Dock. They can then be towed out into the sea.
Ledwood Engineering is a local firm that has been working in the oil industry for many decades and hopes to win some more.
The company and its employees were forced to look for new work as local refineries closed. Recently, the firm won a large contract for the construction of Hinkley Point's new nuclear power station.
Ryan Gwyther was one of those welders. He got jobs in Newcastle, Belfast, and elsewhere. He is hopeful that he can now work on the structures required to build floating wind farms.
"It's my job, welding and pipework. He said that if there wasn't work, he would have to leave.
George James, a welder as well, stated that there are few other options in Pembrokeshire. He said, "It's mainly these trades," except if you are interested in domestic plumbing.
Nick Revell, Ledwood Engineering's managing director, warned that potential jobs could be lost if licensing bodies for the new industry are too slow.
He said, "We have the Crown Estate who have to do this and provide good solutions in an expedited manner."
"They also [Natural Resources Wales] NRW have to be at the table and make it work."
According to the Crown Estate, they were working as fast as possible.
Natural Resources Wales, responsible for the care of Wales' coastline, was asked to provide feedback.
