Keith Clarke, the former WS Atkins chief, has backed plans to build the world’s first tidal lagoon at Swansea Bay, joining the project’s developer as non-executive chairman.
The move follows Atkins being appointed as engineer on the project in August.
The 320-megawatt (MW) capacity lagoon could power every household in Swansea at peak generation. The company hopes to begin construction next year, with first power by the end of 2018. It says that 86pc of the local community supports it.
Three major hurdles stand in its way: securing finance, a subsidy contract from the Department of Energy and Climate Change, and planning consent. Talks with investors are believed to be ongoing while it is thought the DECC is preparing to enter subsidy talks shortly.
Consultants Poyry estimate that the lagoon would require a subsidised electricity price of £168 per MW-hour — more than three times the market price — for 35 years. However, it would then generate cheap power for a further 85 years, while subsequent projects could be price-competitive with nuclear, they estimate.
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