£1bn tidal lagoon ‘desperately needed’, Edwina Hart says

Agreement on the subsidy for the £1bn Swansea tidal lagoon project is “desperately needed”, Welsh Economy Minister Edwina Hart has said.

The UK government is yet to confirm the “strike price” it will pay for energy generated by the planned lagoon.

Mrs Hart said that without “certainty” on subsidy it was difficult for the project to attract investment.

The firm behind the scheme has told BBC Wales it would be “catastrophic” if the delayed project collapsed over funding.

Addressing AMs at a business committee meeting in Swansea, Mrs Hart said: “There is an elephant in the room.

“The tidal lagoon project, if they can’t get certainty on strike price it’s going to be very difficult for investment.

“We haven’t got clarity on the UK government’s energy policies which makes it very difficult for the sector and we can’t afford to have that.

“I know the strike price is absolutely mouth-watering compared to nuclear at Hinkley but we have to do something about it.

“We desperately need that strike price.

SOURCE: bbc.co.uk