Swansea is Wales’s second largest city. The Swansea Bay Tidal Lagoon is a £1-billion project by Tidal Lagoon Power Lt. (TLP), still under development.
Its plan is to build the world’s first power-generating tidal lagoon in Swansea Bay, which involves the construction of a six-mile-long seawall housing underwater turbines, and which would create or support 1,900 jobs with 180 people employed, once the lagoon is operational. TLP says the turbines in Swansea Bay could power 155,000 homes (equivalent to 90% of Swansea Bay’s annual domestic electricity use) for 120 years, offer coastal flood protection for the Swansea Bay area, as well as recreation and amenity facilities, sports, and regeneration.
The company has also stated that they are preparing initiatives to promote biodiversity within Swansea Bay through the development, as well as opportunities for the lagoon itself to incubate a series of new local marine aquaculture businesses.
TLP intends to source 50% of its supply chain from Welsh companies. As an operational power station and tourism facility attracting 70‒100,000 visitors per annum, it is estimated that the annual impact of the lagoon on Welsh GVA could amount to approximately £76 million per year.