Welsh Conservative Shadow Minister for North Wales and Clwyd West MS Darren Millar has today called for the Welsh Government to work with the UK Government to fund environmental impact assessments to unlock £7 billion of investment in a North Wales tidal lagoon project.

North Wales Tidal Energy has proposed a development stretching over 30km from Llandudno to Prestatyn. Once complete, it is estimated the tidal lagoon could generate around £500m a year for the next 120 years.

While the entire project is expected to cost £7 billion, North Wales Tidal Energy say around £50 million is needed to get the project going, largely for environmental impact assessments.

Speaking in the Welsh Parliament this week, Darren highlighted the benefits of the proposed project and called on the Welsh Government to help get it off the ground.

Responding to the Statement by the Minister for Economy, Vaughan Gething MS, on offshore marine energy, he said

“Minister, you will be aware that there has been discussion about the prospect of a North Wales tidal lagoon, which could of create up to 22,000 jobs and generate renewable energy for up to a million homes. The scale of this is enormous stretching from Prestatyn to Llandudno, offering flood protection benefits too.

“In order to unlock the £7 billion worth of investment to get the project done, there needs to be some seed funding of about £50 million to undertake environmental impact assessments.

“Will the Welsh Government look at making a contribution towards this and work with the UK Government in order to deliver what I believe could be a hugely transformative project for the whole of the UK's energy industry?”

In his response, the Minister agreed that “there is significant potential within and around North Wales for tidal energy to be successfully generated at a large level with significant economic return” but said the “challenge is how we work with the private sector and the UK Government to get that off the ground.”