A new era of prosperity for Wales?
The UK Government today published the long-awaited review into tidal lagoons. Commissioned last February, the review was Chaired by the highly experienced former DECC Minister, Charles Hendry.
The review adds to the body of evidence showing the huge potential benefits to the Welsh and UK economy from the development of a fleet of lagoons, and potentially helps the argument for public investment in the project.
Agreement on a strike price for the electricity generated from the proposed Swansea Bay tidal lagoon, alongside the environmental permits from Natural Resources Wales, are the final conditions for its construction. As a pilot project this could kick-start a global export industry which benefits manufacturers across the UK.
The construction process could generate more than 2,000 jobs, with many thousands more coming from the wider supply chain. After construction, £76 million value would be added to the Welsh economy for each of the 120 years of its operation.
“The Hendry review highlights the huge potential benefits which tidal lagoons could bring to Wales” – David Clubb
Commenting on the review, David Clubb said:
“The opportunities presented by tidal lagoon technology are huge, and the benefits will accrue across Wales and beyond.
“The development of a lagoon in Swansea would revitalise the area, and pay huge dividends in wider economic activity as well as being a top tourist destination in its own right.
“We strongly endorse this review, and urge the UK Government to make the necessary public investment which will make the enthralling vision of tidal lagoons around the coast of the UK a reality”.
Source: RenewableUK Cymru