New plans for a Severn Barrage tidal project, generating up to 10% of the UK’s electricity needs and providing a bulwark against climate change induced rising sea levels, can be revealed.
The proposal, called the Great Western Power Barrage, would see a sea wall stretch from the south Wales coast to Somerset. And its backers believe couldn’t be better timed as the UK pivots to renewable energy sources needed to achieve the 2050 net zero emission targets of both the UK and Welsh governments.
It supporters are focused on a first stage £10m fundraising to de-risk and to develop more in-depth plans ahead of a second round of up to £250m to get to a planning consideration point. They are already engaging potential global investors, as well as politicians and decision-makers on both sides of the Severn Estuary. The project has an indicative cost of between £25bn to £30bn.
