Part of the debate – in the Senedd at 5:44 pm on 14 February 2017.
Yes. I think the Member may have already seen Natural Resources Wales’s report, and it does emphasise the flood protection benefits that tidal lagoon projects could bring, and that’s going to be really, really important. The Hendry review observes that tidal lagoons can play a cost-effective part in the UK energy mix, and I think that was a real breakthrough, because there was some questioning about the cost-effectiveness of this technology—it’s a long-term one, but viewed in the long term, it is clearly seen to be cost-effective. The case for this as a pathfinder project is described in the review as ‘very strong’, and then likely to lead to cost-competitive larger lagoons in other areas, such as north Wales, but potentially also Cardiff and Newport, as well as in other sites around the UK. So, this is really, really important.
The thoroughness of the Hendry review goes into calls for the UK Government to adopt a clear strategic approach to tidal energy, similar to offshore wind. So, I think we need to see that. He also calls for a new body, a tidal power authority, that would act as an arm’s-length agency, so that the maximum advantage could be taken of this technology. So, we see the extent, really, of what is before us.
Can I just turn, finally, to the advantages for Wales? I won’t talk specifically—I think other Members will talk about the Swansea project. But if other projects follow in the most likely sites, we could see a £20 billion level of investment from the private sector, over 33,000 jobs, potentially, in construction and manufacturing for Wales, and an annual benefit in our GVA, if these projects go ahead, of £1.4 billion. It is remarkable. Wales was once the Kuwait of coal; we could now be the world leader in tidal energy. Let’s grasp the challenge.