World’s first tidal lagoon turned down by UK Government
The Swansea Bay tidal lagoon has been refused a subsidy contract by the British government.
The Swansea Bay tidal lagoon has been refused a subsidy contract by the British government.
The £1.3 billion project, set to be the first-of-its-kind, has been waiting for over 18 months on whether the government would provide the project with long-term support, financed by bill payers.
Business Secretary Greg Clark told the House of Commons that the project did not reflect value for money, especially while “much cheaper alternatives exist”. Other renewable technologies, such as offshore wind, have made significant cost reductions in recent years.
It’s estimated that the 320 megawatt clean energy project could have created a huge amount of inward investment and job creation in South Wales. Many in Wales have responded with dismay at the announcement; Carwyn Jones, the country’s First Minister, said the UK Government had “dealt another crushing blow to Wales and the Swansea community”. Mr Jones had made a last minute attempt to offer £200 million in order to kick start the project.
The clean energy project was seen by developers Tidal Lagoon Power Ltd (TLP) as the first in six larger lagoons across the UK, which combined could have provided an estimated 8 percent of UK electricity.
Mark Shorrock, chief executive of TLP told the BBC “It’s a very, very sad day for Wales, for Swansea”.
David Clubb, director of tidal trade body RenewableUK Cymru, said: “This means that the region will not benefit from many thousands of jobs from the project and the associated supply chain. The loss in skills, supply chain and economic activity to Swansea, the region, to Wales and to the UK is colossal.
“It means that the pathfinder project, described as being a 'no-regrets' decision by an independent review, which could have led to a whole series of projects across Wales with benefits UK-wide, will have to seek another mechanism of financial support, or will not go ahead,” he added.
How the tidal lagoon technology works
Photo Credit: Tidal Lagoon Power Ltd
