SOE wins UK tidal power contract
Print Edition
A state-owned enterprise from China has been chosen to build a nearly 10-kilometer wall for the world’s first tidal lagoon power plant in Britain’s Swansea Bay, the project developer has said.
China Harbor Engineering Co is the winner of the 300-million-pound (US$460 million) contract, Swansea Bay Tidal Lagoon Power said.
CHEC will spend half of the contract’s value on British workers, partners and supply chain, the developer said.
Local media said that the 1-billion-pound Swansea Bay tidal project will deliver power to the national grid, potentially enough for 120,000 homes.
CHEC has formed a British subsidiary and set out its vision to invest in infrastructure over the next decade.
“CHEC has taken the strategic decision to enter the UK infrastructure investment and construction market, and we see the Swansea Bay Tidal Lagoon, a pioneering scheme that could bring the world a new energy option, as the cornerstone project in our business development strategy in the UK and Europe,” said Lin Yi Chong, president and CEO at CHEC.
Mark Shorrock, CEO of Tidal Lagoon Power, said that a Chinese SOE “makes a good partner when you wish to deploy multiple tidal lagoons quickly and cost effectively” because China is taking a leadership role in tackling the threat of climate change.
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