Swansea council starts search for private partner for £1.5bn tidal lagoon scheme

By Will Ing2018-10-26T06:00:00

Government pulled funding in June saying scheme was not value for money

Swansea 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.’

…

Already registered? Login here

To continue enjoying Building.co.uk, sign up for free guest access

Existing subscriber? LOGIN

Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.

Limited access to building.co.uk
Breaking industry news as it happens
Breaking, daily and weekly e-newsletters

Get your free guest access SIGN UP TODAY

Subscribe now for unlimited access

Subscribe to Building today and you will benefit from:

Unlimited access to all stories including expert analysis and comment from industry leaders
Our league tables, cost models and economics data
Our online archive of over 10,000 articles
Building magazine digital editions
Building magazine print editions
Printed/digital supplements

Subscribe now for unlimited access.

View our subscription options and join our community