Wednesday 3 June 2015

Chinese giant wins £300m Swansea tidal lagoon deal

A £300 million contract to build the world’s first tidal lagoon power plant in Swansea Bay has been awarded to a major Chinese firm.

China Harbour Engineering Company will open a base in the UK and spend around half of the contract value on British workforce, partners and supply chain.

It also plans to invest in further tidal lagoon projects in the UK and will sign a memorandum of understanding for the development of similar projects in Asia with developer Tidal Lagoon Power.

Mark Shorrock, Chief Executive of Tidal Lagoon Power said: “I think China is taking a leadership position in tackling the threat of climate change and so a state-owned enterprise makes a good partner when you wish to deploy multiple tidal lagoons quickly and cost effectively.

“Beginning in Swansea Bay, we aim to foster a new economic opportunity for collaboration in civil engineering between our two companies and nations.”

Last week a British construction company was also picked for the Swansea Bay Tidal Lagoon project in Wales.