Siemens has suspended work on its 10MW tidal array project in Wales.
The news comes after the UK Government withdrew a £10 million grant pledged to the company’s subsidiary Marine Current Turbines (MCT) earlier this year. This was said to be due to delays in securing matched private sector funding.
MCT had started developing the Skerries project in Anglesey, which would generate enough electricity to power 10,000 homes.
The company said it decided to suspend work on the scheme “following discussion with our partners”.
A spokesperson added: “Our discussions with suppliers and other key stakeholders are ongoing on different opportunities. We continue to believe that tidal energy will play an important future role in delivering the UK’s low carbon economy and creating long term sustainable jobs.”