Investors in a proposed £1.3bn tidal power scheme in Swansea Bay have put further funding on hold and warned that the project risks stalling unless the government gives a green light soon. Over £200m has been provisionally committed by backers led by Prudential, the large UK insurer, with Macquarie and Investec, two other major financial institutions, ready to raise hundreds of millions more in debt and equity. But investors are refusing to release further funds in the absence of a government go-ahead for what would be the biggest tidal power scheme of its kind in the world.
FT 9th June 2017 read more »