lagoon 2

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1/30/2015 BBC News £100m investment in Swansea Bay tidal lagoon http://www.bbc.co.uk/news/ukwalessouthwestwales29685642 1/2 SOUTH WEST WALES 20 October 2014 Last updated at 08:07 £100m investment in Swansea Bay tidal lagoon A financial services company is to invest up to £100m in a project to build a powergenerating tidal lagoon in Swansea Bay. The Prudential will become one of the main investors in the £850m scheme to harness tidal energy, which could power 120,000 homes for 120 years. The 240MW project is currently being examined by the Office for National Infrastructure Planning. The Prudential said it would become a "cornerstone investor" in the project. The sixmilelong Ushaped seawall would go from the docks to near Swansea University's new Fabian Way campus. It would take two years to build and create 1,850 construction jobs.

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Lagoon 2

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  • 1/30/2015 BBCNews100minvestmentinSwanseaBaytidallagoon

    http://www.bbc.co.uk/news/ukwalessouthwestwales29685642 1/2

    SOUTHWESTWALES20October2014Lastupdatedat08:07

    100minvestmentinSwanseaBaytidallagoon

    Afinancialservicescompanyistoinvestupto100minaprojecttobuildapowergeneratingtidallagooninSwanseaBay.

    ThePrudentialwillbecomeoneofthemaininvestorsinthe850mschemetoharnesstidalenergy,whichcouldpower120,000homesfor120years.

    The240MWprojectiscurrentlybeingexaminedbytheOfficeforNationalInfrastructurePlanning.

    ThePrudentialsaiditwouldbecomea"cornerstoneinvestor"intheproject.

    ThesixmilelongUshapedseawallwouldgofromthedockstonearSwanseaUniversity'snewFabianWaycampus.

    Itwouldtaketwoyearstobuildandcreate1,850constructionjobs.

  • 1/30/2015 BBCNews100minvestmentinSwanseaBaytidallagoon

    http://www.bbc.co.uk/news/ukwalessouthwestwales29685642 2/2

    Workisscheduledtostartnextyeariftheprojectisapproved,andenergywouldbeavailablefortheNationalGridfrom2018.

    PartofthePrudential'sinvestmentcouldbemadeavailablebynextyear.

    NetworkSwansea'slagooncouldbethefirstinaseriesofsixcoastallagoonstheotherfivebeingmuchlargerincludingonenearColwynBayinConwy,andoneintheBristolChannel.

    Thatnetworkcouldgenerateupto30terawatthoursofpowerperyear,or8%oftheUK'selectricityneeds.

    TidjaneThiam,Pudential'sgroupchiefexecutive,said:"Prudentialiscommittedtoinvestininfrastructureprojectsthatbenefitthenationaleconomy.

    "Wearealsoproudtoplayourpartinthedevelopmentofthisworldleadingrenewableenergytechnology."

    TidalLagoonPowerLtdchiefexecutiveMarkShorrocksaid:"SecuringthebackingofaworldrenownedinvestmentinstitutionmarksanothermajormilestonefortheSwanseaBayprojectandisaclearendorsementofourvisiontointroducetidallagooninfrastructureintotheUK'slowcarbonenergymix."

    Copyright2015BBC.TheBBCisnotresponsibleforthecontentofexternalsites.Readmore.