Plans for a £1.3bn tidal lagoon in Swansea Bay have been backed by a government-commissioned review.
Charles Hendry’s independent report into the technology’s viability said it would make a “strong contribution” to the UK’s energy supply. He said it was cost effective and would bring “significant economic opportunity”.
On the news of this report, Mark Shorrock Chief Executive of Tidal Lagoon Power has said;
“This is an exemplar of a well-managed, timely and thorough independent review. We thank Charles and his team for their positive and professional endeavour throughout the process.
With the publication of the Hendry Review we’ve hit ‘peak consensus.’
Home-grown power from the tides, starting at Swansea Bay, is something we can all agree on: communities and investors, conservationists and industrialists, politicians of all persuasions and now an independent government review, all singing from the same hymn sheet.
Swansea Bay Tidal Lagoon is a vision of how Great Britain can replace part of our ageing power station fleet with low cost, reliable power that also revitalises our industrial heartlands and coastal communities.
When we pay our electricity bills, we are mostly supporting other countries’ energy industries and other countries’ workers. It doesn’t have to be that way. Tidal lagoons will generate electrons that work for Britain and bring down bills.
The Hendry Review has set the final piece of the jigsaw in place: a watershed moment for British energy, British manufacturing, British productivity and our coastal communities. We look forward to working with Ministers and Officials to bring this new industry to life.”
Mr Hendry made 30 conclusions, including:
- The technology would “contribute positively” towards the UK’s decarbonisation goals
- It was “beyond question” that local economic regeneration would follow a tidal lagoon and it was “probably no understatement” that many companies believe it offers a “lifeline”
- It offers “significant economic opportunity” for Wales and the UK although it would take an “additional leap of faith” to believe the UK could be the main beneficiary of developing lagoons overseas
- The potential impact on consumer bills of large scale tidal lagoons “appears attractive, particularly when compared to nuclear projects” in the long term
- A high level of monitoring of environmental impacts would still be needed
- A Tidal Power Authority should oversee the new industry
- Competitive tendering for future projects “to deliver the most substantial cost reductions” – similar to the nuclear industry
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