The Business, Energy and Industrial Strategy (BEIS) Committee and the Welsh Affairs Committee publish a series of documents relating to the Swansea Bay Tidal Lagoon project. David T.C. Davies, Welsh Affairs Committee Chair, said: “There has been much controversy around the Swansea Bay tidal lagoon and the UK Government’s decision not to support the project. Our Committees have been calling for the publication of papers about the background to the decision. I am pleased that that this pressure has led to the non-disclosure agreement being waived so we can now put key documents into the public domain. When proposals involve large amounts of public money, it is important tax payers can see what exactly is being proposed and how much it will cost them. Transparency around the project will allow the public to make up their own minds about the UK Government’s decision.”
Parliament 19th Oct 2018 read more »
A “green” investment that pays 12% interest and involves putting your money into a major tidal energy project was launched this week. But that high rate indicates this is a great deal riskier than putting your money into a high street savings account, with no compensation if things go wrong. So this is not one for the risk-averse. Launched by ethical investment platform Abundance, the scheme involves a company called Orbital Marine Power that is looking to raise £7m to fund construction of the UK’s first floating tidal stream turbine to go into commercial production.
Guardian 20th Oct 2018 read more »