The announcement that the UK Government is to enter into detailed negotiations on turning the Swansea tidal lagoon into reality is good news for Swansea and South Wales.
Apparently, the Tidal Lagoon Power company will be offered the chance to discuss subsidies for the project. This opening of negotiations on the contract is a major win for the Liberal Democrats Energy Secretary, Ed Davey MP, who has been a keen supporter of the lagoon.
The lagoon still needs to get through a current assessment by the Planning Inspectorate of course but if a strike rate and planning is approved the project, which will have a design life of 120 years, will deliver renewable power equivalent to more than 155,000 homes and save the equivalent of 236,000 tonnes in carbon dioxide emissions a year.
I fully expect the lagoon to produce a huge number of local jobs and to generate millions of pounds for my region.
Liberal Democrats in Government have a proud record on renewable energy. Renewable electricity generation and investment have both more than doubled since 2010, and we are the world leader in offshore wind. The Swansea tidal lagoon will be the icing on the cake of that agenda.
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