£1.3bn Swansea Bay Tidal Lagoon officially sunk as developer loses planning appeal

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Unreliable, ‘poor value for money’ electricity project bites the dust. For now, anyway.
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Plans for the £1.3bn Swansea Bay Tidal Lagoon have been dealt a blow by the Court of Appeal, which has ruled that work on the project did not commence within five years of receiving planning approval and therefore the development consent order (DCO) is no longer valid, says New Civil Engineer.

The project, put together by developer Tidal Lagoon (Swansea Bay), was to build the world’s first tidal lagoon power plant. This would span Swansea Bay to form a lagoon between the River Tawe and the River Neath.

The structure would have had 16 turbines producing a up to 320MW per day.

Tidal Lagoon submitted its plans to government in February 2014 and the project received its DCO in June 2015. Ground investigation and survey works were undertaken by the developer in November 2016, but these were not considered as “material operations” so did not count as the project having commenced.

The project underwent financial strains over the following years. The developer entered into negotiations with the business secretary to secure funding for the project.

In June 2018, the Welsh government said it would pay £200M towards it, but later that month the secretary of state said the project was poor value for money and there would be no funds forthcoming from either Parliament or the Welsh government.

Full article here.

via Tallbloke’s Talkshop

December 7, 2022 by oldbrew

£1.3bn Swansea Bay Tidal Lagoon officially sunk as developer loses planning appeal — Tallbloke’s Talkshop