Green light given to Swansea Bay Tidal Lagoon

The government has given planning consent for the construction of the world’s first tidal lagoon in Swansea Bay. The energy source will boost renewables and the UK’s move towards home-grown low-carbon energy.

Energy and Climate Change and Wales Office Minister Lord Bourne commented, “We need more clean and home-grown sources of energy, which will help reduce our reliance on foreign fossil fuels. Low carbon energy projects like the tidal lagoon in Swansea Bay could bring investment, support local jobs and help contribute to the Welsh economy and Swansea area.”

The company behind the plans, Tidal Lagoon Power, will now begin negotiate how much subsidy will be paid for the energy produced. A subsidy will ensure that the project receives a guaranteed price for its energy.

The £1 billion project is expected to provide enough clean energy to power more than 155,000 homes. It is hope that the plant, which will see a six-mile long U-shaped wall constructed in the Port of Swansea, will be operational in 2018.

Mark Shorrock, chief executive of Tidal Lagoon Swansea Bay, said, “Wales led the way providing the fuel for the industrial revolution. We are now entering the era of the climate change revolution – de-carbonising our world in time to avoid two degrees of global warming – Wales can now lead this next revolution.”

He continued, “In the run up to the Paris talks on a global climate change deal, a deal to steer global emissions from 50 billion tonnes CO2e down to 40 billion tonnes CO2e by 2030 and 20 billion tonnes by 2050, the UK and especially Wales has opened a new door to help answer the greatest challenge of our age.

“With the Swansea Bay Tidal Lagoon becoming a reality, locking in 120 year life, zero carbon energy infrastructure, we have the potential to help transform our industrial economy and the UK’s energy mix.”

Tidal Lagoon Power, unveiled plans for a series of developments earlier this year. The company has plans to build six lagoons across the UK that could meet 8% of the UK’s total electricity requirement.

Photo: Tidal Lagoon Power

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Further reading:

Tidal Lagoon Swansea Bay: the mastering of the tide

Good Energy invests in Swansea Bay Tidal Lagoon

Final institutional equity investor of Swansea Bay tidal lagoon revealed

UK tidal lagoon plans unveiled

Prudential named as major investor in Tidal Lagoon Swansea Bay