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Swansea Bay’s £1Bn Tidal Lagoon Hit By Delay

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The building of a £1bn tidal energy lagoon in Swansea Bay has been delayed by a year as negotiations over the level of UK government funding for the project continue.

Tidal Lagoon Power (TLP) received backing by the Department of Energy and Climate Change (DECC) in June.

TLP said it had taken a “pragmatic” decision to delay construction, as talks are ongoing over how much electricity subsidy will be paid.

Work was due to get under way in 2016.

TLP is also waiting for a marine licence from Natural Resources Wales and a lease from the Crown Estate.

A spokesman for TLP said: “Our Board has updated the target for the construction programme.

“The building needs to start in the spring, but first we need the remaining permissions, CfD (contract for difference) and financial close. So the pragmatic decision for spring 2016 is to move to spring 2017.”

The CfD deal is crucial – as it sets out how much the government is willing to pay towards the energy generated.

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