Plans to build the world’s first tidal power lagoon, in Swansea Bay, have been thrown out by the UK government.
Business and Energy Secretary Greg Clark said the £1.3bn project was not value for money, despite claims by developers Tidal Lagoon Power (TLP) a revised offer made it cheaper.
Councillor Andrew Morgan, Chair of the Cardiff Capital Region Cabinet, and Leader of Rhondda Cynon Taf County Borough Council, said:
“The UK Government announcement today that it will not support the Tidal Lagoon project at Swansea is extremely disappointing. This is a lost opportunity for South Wales in many ways – in terms of lost jobs, in terms of lost investment and in terms of lost technology and innovation.
“The potential of Tidal Lagoon and the subsequent projects the company behind it have proposed are too much of an opportunity to be lost.
“We would urge the UK Government to reconsider its decision, or for alternative solutions to be found to ensure this project becomes a reality.”
Paul Gardner, President of Swansea Bay Business Club, said:
“We understand that naturally many of our members will be disappointed by the decision as they have supported the concept since the beginning. However, businesses in the Swansea Bay City Region are hugely resilient and have proved time and time again how strong they really are. Business optimism remains high, as evidenced in our most recent Business Barometer and we hope that this decision will not dent the current sense of optimism in the business community.
“Looking ahead, we now call on local and Welsh Government stakeholders to work closely with businesses in the region to deliver the various City Deal projects which we know will have a concrete impact on the region and can genuinely transform the economic landscape of the area. We need policymakers across the region to remain ambitious, forget looking over their shoulders to Cardiff and continue focusing on future proofing our city in our way, with tangible investment like the City Deal.”