New plans for a tidal lagoon in Swansea Bay are ‘credible and financially viable’, according to report for Swansea Council. When the government finally confirmed last year it would not back plans to build a giant tidal energy lagoon in Swansea Bay, supporters of tidal power feared their dreams of an array in the Welsh bay had been sunk forever. But their hopes have resurfaced this week, thanks to an independent report commissioned by Swansea Council which suggests a version of the scheme, reimagined as a major infrastructure project, could prove financially viable. Dragon Energy Island, widely seen as a replacement for the doomed Swansea Bay Tidal Lagoon, would feature a floating island with thousands of modular commercial and residential buildings. Adding homes and businesses to the scheme for a tidal lagoon would help bridge the funding requirement for the energy scheme, the report from Holistic Capital concluded. It also calculated that savings of up to 30 per cent could be made on the capital costs of the original £1.3bn lagoon plan, making the project as a whole financially viable. The report was commissioned by a Swansea Bay City Region taskforce, which was established in August 2018 to explore the potential for a tidal lagoon in Swansea following the Westminster government’s decision to scrap plans for a price support contract for the original project from Tidal Lagoon Power. Speaking at the time, Business Secretary Greg Clark said the scheme would impose an unreasonable cost burden on consumers.
Business Green 23rd May 2019 read more »
A futuristic floating island with 10,000 homes could be built off the Welsh coast, according to a new report. The Dragon Energy Island proposal looks to revive a tidal lagoon project in Swansea Bay that was rejected by the government in June last year. The proposal includes building an underwater data centre, a solar farm and giant underwater turbines that could power thousands of homes over a period of 120 years. Councils and other public sector organisations could buy electricity directly from the energy island, according to the report by Holistic Capital.
Independent 22nd May 2019 read more »
Flagship EU tidal energy project reduces cost of tidal energy by 15%. The €20m Enabling Future Arrays in Tidal scheme is an academic-industry collaboration between nine European partners and has already achieved impressive results from its Shetland tidal array. A flagship EU tidal energy project launched 18 months ago has already reduced the cost of tidal energy by 15%. The €20 million (£17 million) Enabling Future Arrays in Tidal (EnFAIT) scheme is a collaboration between academic and industry partners, with nine European partners focused on demonstrating the economic viability of marine power. Edinburgh-based Nova Innovation, which leads the consortium, claims its Shetland tidal array has already reduced operational costs by 15% and expects this figure to surpass 40% by 2022. It predicts if this is achieved, it will result in an ‘explosion of interest’ from energy investors around the world.
Energy Live News 23rd May 2019 read more »