RenewableUK has commented on Chancellor’s Budget 2015 announcement on financial support for Swansea Bay tidal lagoon project.
The most important announcement for the renewables sector in the Budget 2015 is the one about the start of the commercial negotiations over Swansea Bay Tidal Lagoon , Renewable UK’s press release reads.
Dee Nunn , RenewableUK’s Wave and Tidal Development Manager, said: “This is a significant step forward towards building the first tidal lagoon of its kind in the world.
“This pioneering project would ensure that Wales and the UK stay at the forefront of marine energy, providing clean electricity for 120 years and creating 2.000 jobs in the construction phase alone.”
Dee Nunn suggested that this decision could also present a stepping stone for the larger tidal lagoons to be developed.
Nunn added: “Swansea Bay will generate the confidence needed to attract investors into those future schemes in the UK. So a negotiated strike price is needed for this first project as it’s the trailblazer which will generate momentum to kick-start the full commercialisation of this part of the marine energy sector.”
Image: twitter/Dee Nunn