lagoon 2
DESCRIPTION
Lagoon 2TRANSCRIPT
-
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.