Dubbed as the Tidal Lagoon Cardiff, the tidal lagoon would span from Cardiff and Newport and is being designed to generate about 5.5TWh of power annually. This, TLP claims can comfortably cover the power requirements of all the homes in Wales.
According to a report in the BBC, TLP expects the follow-up project costs to be in the range of £60 and £70 per MWh.
The Tidal Lagoon Cardiff has been estimated by the tidal power developer to boost the Welsh economy by around £2bn during its construction phase. TLP has also projected a gross value added contribution of more than £500m in each of the Tidal Lagoon Cardiff’s 120 years of operation.
The tidal power producer is also planning to develop other tidal lagoon projects in the UK which includes the £1.3bn Tidal Lagoon Swansea Bay of 320MW capacity. Currently under approval of the UK government, the Tidal Lagoon Swansea Bay is said to have the ability to power 155,000 homes annually.
The proposed tidal lagoon in Swansea from TLP is expected to become the first tidal lagoon power plant in the world should it get all the mandatory approvals including environmental clearances.
TLP aims to break ground on the Swansea tidal lagoon in 2018, with first power expected to be generated after three years of construction.
TLP chief executive Mark Shorrock has been quoted by the publication to have said: "While we await the government's response to this offer and to the independent Hendry review of tidal lagoons, we have continued our development work on the subsequent programme.
“We have secured the grid connection for a tidal power station equal in installed capacity to Hinkley Point C.”
