Wales offers to directly invest in Swansea Bay lagoon

The Welsh Government has offered to invest in the £1.3 billion Swansea Tidal Lagoon project. The money is intended to kickstart plans for the clean project nearly a year after the Hendry Review backed it as a cost-effective pilot to test the technology – the local council has set up a clock to track the […]

Tory MPs support Swansea Bay Tidal Lagoon

Four in every five Conservative MPs and Councillors support the Swansea Bay Tidal Lagoon project. That’s according to a survey which questioned 303 Councillors and 150 MPs, out of which 61 were Conservatives. The proposed £1 billion Swansea Bay is expected to generate around 500GWh of electricity every year – enough to power almost 120,000 homes. […]

Ecotricity ready to build tidal lagoon in UK

Green energy supplier Ecotricity has announced it is ready to compete to build the first tidal lagoon energy site in the UK. The firm claims it can develop these kind of projects in the country for almost half the price that is currently proposed for the Swansea Bay project. The announcement follows the government’s plans to review the […]

Indian family invest in UK tidal lagoon project

The developer of the £1 billion Swansea Bay tidal lagoon project has bagged a multi-million pound investment from Indian investors. Indian commodity tycoons the Gupta family have stuck “an eight-figure deal” to buy a “substantial stake” in Tidal Lagoon Power. The move is said to be part of the family’s wider strategy to invest in […]

Green light for £1bn Swansea Bay tidal lagoon

Planning permission has been granted for the construction of the world’s first tidal lagoon in Wales. The decision follows a recommendation made by the Planning Inspectorate and an examination process. Tidal Lagoon Power said it will now negotiate how much subsidy it can receive for the 500GWh of low carbon electricity it is expected to […]

Investor to pump £100m into UK tidal lagoon

The UK’s first tidal lagoon power project in Wales has got a huge boost, thanks to a new investment announcement. Investment manager InfraRed Capital Partners has made a commitment to invest up to £100 million in the Swansea Bay Tidal Lagoon project. Developer Tidal Lagoon Power faces weeks of negotiations to secure an agreement from […]

Good Energy buys into Swansea tidal lagoon project

Good Energy has reserved an option to buy 10% of the electricity output from a proposed tidal lagoon power plant in Wales in a deal that includes a £500,400 equity stake. The Swansea Bay project, for which developer Tidal Lagoon Power submitted planning permission in February this year, is expected to generate 495GWh of electricity […]