Plans to build a 320MW tidal lagoon project in Swansea Bay in South Wales has been hit by delays as the developers negotiate with the government over subsidies, reports from the BBC have said.
Tidal Lagoon Power (TLP) reportedly told the news service that it had decided to delay construction until it had concluded talks with the UK government on how
much subsidy the project will receive.
In June TLP received development consent for the project, which would be the world's first man made energy-generating lagoon once complete. The company had targeted achieving financial close at the end of 2015, with work due to start in 2016.
The project still requires a marine licence from Natural Resources Wales and a lease from the Crown Estate. Mark Shorrock, CEO of Tidal Lagoon Swansea Bay has called the scheme a "game-changer" that could pave the way for a fleet of lagoons in the UK and overseas.
