The government is ready to pull the plug on the £1.3bn Swansea Bay Tidal Lagoon renewable energy project according to reports, with ministers expected to announce a final decision next week. The proposal from Tidal Lagoon Power has provisional backing of £200m from the Welsh Government, but needs the planning go-head and subsidy support from Westminster to go ahead.
Business Green 1st June 2018 read more »
Plans to build a world-first tidal lagoon in Swansea Bay are expected to be rejected in the coming weeks, amid concerns over its high cost to consumers. The £1.3 billion project to build a six-mile breakwater with turbines to generate green energy would require subsidies on energy bills. Sources confirmed reports in the Financial Times that ministers were preparing to reject the proposal, despite strong support from the Welsh government, which has offered to invest in the project.
Times 2nd June 2018 read more »