Tidal lagoon: Is the project already a missed opportunity for Swansea?

Back when the £1 billion plans were first thrust into the pipeline in 2010, tidal lagoon was one project that was set to equate to a number of opportunities for the people and city of Swansea. Set to be the world’s first man-made, energy generating lagoon, once completed the project would harness the indigenous, low carbon electricity produced naturally by the Severn Estuary, which has the second highest tidal range in the world. As a well-respected businessman and commentator based in Swansea, Chris Hope, Partner at Dawsons Estate Agents, is no stranger to the tidal lagoon project. Whilst the plans, and the continued debate regarding whether the venture will or will not go ahead, are old news, the procrastination, missed opportunity and faltering political will experienced so far is worth commenting on. Why the big delay? The tidal lagoon build has been hit by delay after delay, with the level of UK government funding available the latest issue that has cast doubt on whether the project will go ahead. Despite receiving backing from the Department of Energy and Climate Change (DECC), Tidal Lagoon Power (TLP) has decided to delay construction by a year due to ongoing negotiations regarding how much electricity subsidy will be paid once the build is complete. Further delays, pushing the 2016 start date to 2017, have been created due to the extended wait for TLP’s marine licence and lease. With recent news of a rival green energy pioneer – Ecotricity - looking to steal the thunder behind the project’s status as the first tidal lagoon development, after all those years of planning could TLP ultimately be beaten to the punch? What now? Whilst there is still a possibility that the tidal lagoon project will go ahead, the big question on every Swansea resident and business owner’s lips is - should we move on or as a city should we continue to lobby? The building of the lagoon and its status as the first of six on the British coast will benefit the economy, the city’s wider profile, and the businesses and residents based within the area. For the people of Swansea, the lagoon will provide a clean, renewable and reliable source of power for some 155,000 homes for upwards of 120 years, whilst the development itself will bring significant employment, community and tourism opportunities. For the planet, the project will see a huge carbon emissions reduction, with the lagoon able to contribute to the meeting of national targets thanks to a saving of more than 236,000 tonnes of CO2 each and every year. The coastal flood protection advantages that go hand-in-hand with the development will also unlock increased reliability and peace of mind for the residents and businesses that call Swansea their home. An independent government review has been delayed until autumn 2016, but in the meantime are the aforementioned benefits enough to keep you talking about it and positively pushing the project in the right direction? Only time will tell.