World's first energy-producing tidal lagoon one step closer to reality
Approval was given for the plans of the world's first tidal lagoon -- expected to generate around 500 gigawatt-hours (GWh) each year. Plans for the lagoon show turbines built in a six-mile horseshoe-shaped sea wall around the Swansea Bay in Wales.
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Swansea Bay. Credit: GeographBot/Wikimedia Commons |
"We need more clean and home-grown sources of energy, which will help to reduce our reliance on foreign fossil fuels," said Energy and Climate Change and Wales Office Minister Lord Bourne in a statement. "Low carbon energy projects like the tidal lagoon in Swansea Bay could bring investment, support local jobs and help contribute to the Welsh economy and Swansea area."
Although the project received planning consent, it still needs to undergo Contract for Difference (CfD) negotiations, which would establish whether a tidal lagoon at Swansea Bay is affordable and has the best value for money for customers.
According to the UK Department of Energy and Climate Change (DECC), the decision by officials to offer a CfD for the lagoon project would be subject to strict value for money considerations and affordability, and to State aid approval.
In December 2014, DECC announced plans to research lagoon program potential that could meet future energy needs of UK residents, and "in March 2015 the previous Government announced it was starting the first phase of negotiations over a potential Contract for Difference with Tidal Lagoon Power Ltd, the developer of Swansea Bay Tidal Lagoon, to establish whether the tidal lagoon project at Swansea Bay is affordable and value for money for consumers," explained DECC.
According to estimates, the UK may have around 50 percent of
Europe's tidal energy resources, and has the potential to meet
20 percent of UK's energy demand.
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