Government refuses to fund Swansea Bay tidal lagoon project

Speaking in parliament, business secretary Greg Clark said six tidal lagoon projects proposed by TLP ‘do not meet the requirements for value for money’.

“Taking all the costs together, I have been advised by analysts that, by 2050, the proposal that has been made – which would generate around 30TWh per year of electricity - could cost up to £20bn more to produce compared to generating that same electricity through a mix of offshore wind and nuclear, once financing, operating, and system costs have been taken into account,” he said. “That could cost the average British household consumer up to an additional £700 between 2031 and 2050, or the equivalent of £15,000 for every household in Wales.”

TLP’s proposed proof of concept in Swansea would have seen a 320MW facility built with 16 turbines built by General Electric and Andritz Hydro. Following Swansea, the company would have scaled-up at sites located in Cardiff, Newport, West Cumbria, Colwyn Bay, and Bridgwater Bay.