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.
While at an early stage backers of the project, the Great Western Power Barrage, believe the timing for a long mooted barrage, stretching from the South Wales coast to Somerset, 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.
The Great Western Power Barrage, which is 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, is already engaging potential global investors, as well as politicians and decision-makers on both sides of the Severn Estuary. It said its project has an indicative cost of between £25bn to £30bn.
