Plans to build the world's first tidal lagoon-based renewable energy system in Swansea Bay have today (12 January) received support from a long-awaited, Government-commissioned review assessing the viability of the project.
Led by former Conservative Energy Minister Charles Hendry, the independent report considered whether the potential contributions of tidal lagoons to the future of the UK’s energy mix are cost-effective and represent “value for money”.
The Hendry Report finds that the Swansea Bay project does indeed have the potential to be cost-competitive with other clean energy technologies by the mid-2020s, concluding “beyond question” that the project would bring “very real” economic benefits for the regional and national economy. (Scroll down for summary of recommendations).
Commenting on his report, Hendry said: “I believe that the evidence is clear that tidal lagoons can play a cost-effective role in the UK's energy mix and there is considerable value in a small (less than 500MW) pathfinder project. I conclude that tidal lagoons would help deliver security of supply; they would assist in delivering our decarbonisation commitments; and they would bring real and substantial opportunities for the UK supply chain.
“Most importantly, it is clear that tidal lagoons at scale could deliver low carbon power in a way that is very competitive with other low-carbon sources.”
Read more here.