Friday, October 02, 2015

Great Swansea Bay renewable power project under threat

South Wales West AM Peter Black said he is concerned that investors could take their money elsewhere following a green subsidy decision delay from the UK Government
He said: "“I am a big supporter of the Swansea Bay Tidal Lagoon, but it is quite clear that the failure of the UK Government to agree the price for the electricity it will generate within the original timetable has led to this delay.
"The danger now is that the project will lose momentum and that investors will take their money elsewhere.
“More seriously, the fact that the UK Government is dragging its heels over the feed-in tariff suggest that they may not be prepared to pay the price the company needs to make the project viable.
"I am concerned that the government’s lack of commitment to the lagoon and to renewable energy generally could kill it off completely.
“The Conservative Secretary of State for Energy needs to give some assurances that this will not be the case and accelerate the decision-making process so that Swansea, and those who want to invest in this project can have some certainty about the lagoon’s future.”

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