More than 400 private investors may lose more than £50 million if the government blocks plans for a string of tidal energy power stations along Britain’s west coast. Ministers are under pressure to decide whether to back a Swansea Bay lagoon project, which could lead to even larger schemes at Cardiff and in north Wales at Colwyn Bay. It wants the business, energy and industrial strategy department to agree a “strike price” for the amount at which it can sell its electricity from wave energy, harnessed by giant submerged turbines. The green light would unlock £200 million from the Welsh government, another £200 million of equity funding by The Prudential and InfraRed Capital, as well as debt-funding through Macquarie Bank.
Times 9th April 2018 read more »