New Swansea Lagoon plans unveiled

Swansea Council has issued a prior invitation notice (PIN) as part of plans to resurrect the tidal lagoon initiative – but it may no longer be a partnership model.

The authority has launched the PIN following work undertaken over the past few months by a taskforce set up specifically to consider how the scheme could be delivered.

“Unlike the previous proposal, we believe it should be a private sector-led development that doesn’t rely on government or local government subsidy to pay for it,” said council leader Rob Stewart, who also chaired the taskforce.

However, the notice states that the Welsh government will consider making “a significant investment alongside an appropriate institutional partner/investor”.

The PIN envisages the private partner undertaking the detailed planning, design and licensing of the project, as well as securing funding.

In June, the UK government decided not to support the project on the basis that the so-called strike price would be too expensive. The following month, a report commissioned by Swansea University suggested a Welsh government bond issue and a model similar to the Thames Tideway scheme could deliver the tidal lagoon.