Views sought on Welsh Lagoon

26/01/2015
The Westminster government is calling on interested parties to offer their views on the approach that should be taken if it enters into a contract for the Swansea Bay Tidal Lagoon project.

A Contract for Difference could be entered into by the government as part of its efforts to encourage greater investment in renewable technologies. It is now undertaking discussions with potential private partner Tidal Lagoon Power to consider whether the project would be affordable and provide value for money.

“Britain has some of the best tidal resources in the world – tidal lagoons could provide 8% of our electricity needs, replacing foreign fossil fuels with clean, reliable home-grown electricity,” said Energy and Climate Change Secretary, Ed Davey. 

“That’s why it’s important we consider what might provide the best value for money for bill payers.”

The Contracts for Difference regime provide developers with more price certainty for the electricity generated by the plant, stimulating greater investment in renewable energy projects.

Under the plans for a tidal lagoon in Swansea Bay, the private partner would build a six-mile horseshoe-shaped sea wall, which would generate around 0.5 TWh per year, enough to power almost 120,000 homes. The Planning Inspectorate is currently considering the scheme

Recent News

A preferred bidder has been chosen for the Gwynt y Mor offshore transmission owner (OFTO) contract off the coast of north Wales…Read More

The £1bn Swansea Bay Tidal Lagoon project in south Wales has confirmed its second institutional equity investor, meaning it now has the full equity required to proceed…Read More

The Westminster government is calling on interested parties to offer their views on the approach that should be taken if it enters into a contract for the Swansea Bay Tidal Lagoon project.…Read More

Download Agenda

 

Click here to download