A grid connection for the 3,240MW capacity tidal lagoon in Cardiff has been secured, paving the way for construction of a new tidal power station.
The company behind the energy project is Tidal Lagoon Power.
“Today we have secured the grid connection for a tidal power station equal in installed capacity to Hinkley Point C,” said the company’s chief executive Mark Shorrock. “Looking at the pounds per megawatt hour, unit cost of new build power stations, nuclear is currently priced in the nineties, the latest offshore wind projects are expected to drop into the seventies and our models show Cardiff Tidal Lagoon beating them all in the sixties.”
He added that by leveraging the “commanding” position of companies in the UK, the Cardiff Tidal Lagoon would be worth more than £6bn to UK companies.
The company said tidal lagoons can provide the grid with predictable, year round, zero carbon electricity at scale. It is estimated the 5,500GWh annual power output from the Cardiff Tidal Lagoon is enough to power every home in Wales, for 120 years.
Current plans for Cardiff Tidal Lagoon comprise a 20.5km breakwater wall housing up to 108 tidal lagoon turbines within at least two powerhouse units. Tidal Lagoon Power said by enclosing approximately 70km² of the Severn Estuary, the project would pass an average of some 600M.m³ of water through its turbines on each tidal cycle – more than 11 times the volume of water available to the pathfinder at Swansea Bay.
Shorrock said the power station at Swansea Bay offered the government a lower subsidy per megawatt hour than the new Hinkley Point C nuclear power station.