Report concludes that tidal lagoon in Wales could proceed without UK government subsidy

Holistic Capital has published a report that concludes that the "cancelled" 320 MW tidal lagoon project in Swansea could be developed without a subsidy from the UK government, until now seen as critical to the project's progression. After over three years of deliberation, the UK government announced that it would not subsidize the project, which was seen as a death-blow, rendering the implementation of the tidal lagoon impossible.

However, this report, commissioned by Swansea University on behalf of the Swansea Bay City Region - a partnership of local councils, universities, businesses and health boards, concludes that the project can be funded independently of UK Government, with the original GBP1.3 billion (US$1.7 billion) cost reduced and new funding models.

In response, a new task force is being set up to investigate alternative options for procuring, constructing, funding and operating the lagoon. Details of the composition of the task force are expected to be announced shortly.