Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Good Energy Buys Stake in Tidal Lagoon to Power 155,000 Homes

Don't Miss Out —
Follow us on:

May 7 (Bloomberg) -- Good Energy Group Plc, a British renewable-power supplier, bought a stake in a tidal lagoon project in Wales.

Good Energy invested 500,400 pounds ($849,128) in developer Tidal Lagoon Power Ltd., the Chippenham-based supplier said today in an e-mailed statement. Good Energy has an option to buy 10 percent of output from the facility that’s expected to supply more than 155,000 households.

Tidal Lagoon plans to install a 9.5-kilometer (6-mile) tidal power plant across Swansea Bay in Wales. The project, which is awaiting planning consent, would cost about $1.2 billion and have a capacity of 320 megawatts. It’s expected to be connected to the grid by 2018.

The company has been developing its technology for three years alongside businesses such as Alstom SA, Andritz AG and General Electric Co.

Tidal lagoon power plants, among the most expensive forms of renewable energy, are considered less damaging to the environment than barrages that block whole estuaries or rivers. They are also less of an impediment to shipping. The U.K. last year rejected plans for a barrage across the Severn River.

To contact the reporter on this story: Louise Downing in London at ldowning4@bloomberg.net

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Alex Devine

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.