“That it has made the wrong decision on the development of the pathfinder lagoon in South Wales is tragic but cannot and will not stop North Wales Tidal Energy & Coastal Protection Ltd (NWTE) continuing to develop and promote a North Wales tidal lagoon. UK Business and Energy Secretary Greg Clark said: “The project and proposed program of lagoons do not meet the requirements for value for money, and so it would not be appropriate to lead the company to believe that public funds can be justified.”

According to the analysis, the cost of the power generated from offshore wind farms or the Hinkley Point C nuclear power station would be much cheaper. Clark added: “The same power generated by the lagoon, over 60 years, for £1.3 billion, would cost around £400 million for offshore wind even at today’s prices, which have fallen rapidly, and we expect to be cheaper still in future.”

Additionally, the capital cost per unit of electricity generated annually from the proposed project would be three times higher when compared to that of the Hinkley Point C nuclear power station. Media playback is unsupported on your device Media caption Greg Clark said the lagoon did not meet "value for money" requirements

The review by former energy minister Charles Hendry said Swansea should be used as a test of the technology, before allowing other developers to bid to construct further schemes as part of a competitive tendering process.
The government of the United Kingdom announces the cancellation of the Swansea Bay tidal lagoon project, prompting ire from Welsh officials.