The independent Tidal Lagoon Industry Advisory Group has, since 2014, worked to ensure that Welsh and UK industry is ready to secure a primary position in the tidal lagoon sector.īritish-made turbine and generator technology and engineering expertise will be at the heart of the project, seeding a new global industry with significant export potential for UK manufacturers. The project is expected to contribute £316 million in Gross Value Added to the Welsh economy during construction, followed by £76 million in each of its 120 years of operation. Independent reports find that 2,232 construction and manufacturing jobs will be directly sustained by the build, supporting thousands of further jobs in the wider Welsh/UK economy. The majority of project’s £1.3 billion capital spend will be on content sourced in Wales and across the UK. Macquarie Capital (Europe) Limited is advising Tidal Lagoon Swansea Bay (TLSB) on debt funding, and has received close to 40 expressions of interest to provide debt finance to the project. Construction of the entire project will take four years, with first power generated in year three.īritish institutions, led by Prudential’s InfraCapital and InfraRed Capital Partners, will provide equity funding for the business. With the exception of a commercial loan from Welsh Government this has been financed privately. To date, approximately £35 million has been spent on project development. The 320MW pathfinder project provides a scalable blueprint for our programme, opening up the option of a fleet of larger UK tidal lagoons to generate renewable electricity at a scale and low cost not seen before. Its major delivery partners include Atkins, General Electric, Andritz Hydro, Laing O’Rourke and Alun Griffiths Ltd. It will comprise 16 hydro turbines, a 9.5km breakwater wall, generating electricity for 155,000 homes for the next 120 years. The project was awarded a Development Consent Order in 2015 and is primed for construction. Power is then generated as the water rushes through 60m long draft tubes, rotating the 7.2m diameter hydro turbines. We generate electricity on both the incoming and outgoing tides, four times a day, every day.ĭue to the incredible tides on the West Coast of Britain, by keeping the turbine gates shut for just three hours, there is already a 4m height difference in water between the inside and the outside of the lagoon. Water fills up and empties the man-made lagoon as the tides rise and fall. Swansea Bay Tidal Lagoon will be the world’s first tidal lagoon power plant.Ī tidal lagoon is a ‘U’ shaped breakwater, built out from the coast which has a bank of hydro turbines in it. EIA Topics: Intertidal & Subtidal Benthic EcologyĪn iconic, world-first infrastructure project in South West Wales.Register/Login: Project Updates & Interest in Supply Chain.
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