UK government pulls out of £1.3 billion tidal lagoon project 

Plans for a £1.3 billion ($1.72 billion) tidal lagoon in Swansea Bay in Wales have been rejected by the U.K. government.

If built, the proposed project would certainly have been the entire world’s first tidal lagoon power plant. Tidal Lagoon Power, which can be behind the project, claimed This kind of would certainly produce enough electricity for 155,000 homes over the next 0 years.

In a statement to parliament on Monday, however, Business in addition to Energy Secretary Greg Clark rejected the scheme.

“The inescapable conclusion of an extensive analysis can be that will however novel in addition to appealing the proposal that will has been made can be, even with these factors taken into account, the costs that will would certainly be incurred by consumers in addition to taxpayers would certainly be so much higher than alternative sources of low carbon power, that will This kind of would certainly be irresponsible to enter into a contract with the provider,” he said.

The news was met with dismay by those behind the project. “In light of today’s statement in addition to having heard next to nothing via government For just two years, the board will be meeting in two days’ time to consider its next steps,” Keith Clarke, the chairman of Tidal Lagoon Power, said.

“Any brand new industry needs a pathfinder in addition to that will can only be Swansea Bay Tidal Lagoon,” Clarke added. “If government can be serious about energy diversity in addition to the potential of tidal lagoons in addition to marine energy more generally, This kind of needs to get serious about delivering Swansea Bay Tidal Lagoon. The entire industrial strategy of employing British manufacturing to harness British tides relies explicitly on delivery of a pathfinder at Swansea. Without This kind of, we will again export jobs that will could in addition to should stay here.”

The government’s decision was also criticized by politicians in addition to environmental organizations. Carwyn Jones, the first minister of Wales, described This kind of as “short-sighted” in addition to “another crushing blow to Wales in addition to the Swansea community.”

Haf Elgar, director of Friends of the Earth Cymru, said that will the government’s decision to pull the plug on its support for the project was a “kick within the teeth for the region — in addition to a massive blow for the development of Wales’ huge renewable energy potential.” Elgar described the scheme as a “ground-breaking opportunity to create jobs in addition to harness the power of the second largest tidal range within the entire world.”

Hugh McNeal, the chief executive of trade association RenewableUK, described the decision as “deeply disappointing” in addition to one that will showed a lack of vision.

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