Government turns down £1.3 billion tidal lagoon power plant

The Government has refused to back a "world first" tidal lagoon project to generate clean energy from the tides on cost grounds.

The company behind the scheme, Tidal Lagoon Power, wanted subsidies similar to those for new nuclear power to build the £1.3 billion scheme, consisting of a U-shaped sea wall with turbines in Swansea Bay.

The lagoon had been backed as a "pathfinder" project to develop the tidal technology by an independent review for the Government.

But Business Secretary Greg Clark told the House of Commons the project "however novel and appealing" did not demonstrate value for money for consumers and the public purse.