Market Leads & Opportunities
Swansea council starts search for private partner for £1.5bn tidal lagoon scheme
Government pulled funding in June saying scheme was not value for moneySwansea Council is searching for a firm to fund, construct and operate its proposed £1.5bn tidal lagoon after the government mothballed funding plans.Laing O’Rourke was preferred bidder for a £200m contract to deliver a 410m turbine house but plans were scuppered in June when energy secretary Greg Clarke pulled funding, saying the scheme did not offer value for money.Now the council is looking for a partner to fully-fund the venture – but adds the Welsh government may be able to offer a ‘significant co-investment.’
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