The Prysmian Group has announced the cancellation of its $300 million plan to build a subsea cable manufacturing plant at Brayton Point, Somerset. The project, which promised over 100 jobs and significant tax revenues, has been scrapped after nearly three years of permitting and development efforts. Prysmian cited strategic adjustments in aligning production capacity with market demand for its decision.
This setback coincides with incoming President Donald Trump’s vocal opposition to the offshore wind industry, creating uncertainty for renewable energy initiatives. Somerset, already grappling with economic challenges following the closure of two power plants, now faces additional obstacles as it seeks new investment opportunities.
The Brayton Point site, once celebrated by President Joe Biden as a clean energy hub, now returns to the drawing board amid a turbulent political and economic climate for offshore wind development.