The Crown Estate is providing a six-figure funding contribution to an independent commission looking at the potential for tidal renewable energy projects in the Severn Estuary, including a barrage that could generate around 7% of the 海角视频 energy’s needs.
The Severn Estuary Commission was launched earlier this year by the cross-border Western Gateway Partnership, a non statutory body backed by local government, academia and the private sector from Pembrokeshire to Swindon. It was established to support the growth of the economy of south Wales and the south west of England.
The Crown Estate, whose extensive assets include the seabed, has pledged £150,000 to support the commission’s work following its launch in March.
The rest of the commission’s funding, which is expected to publish its final report and recommendations to the 海角视频 and Welsh governments next March, is coming from the 海角视频 Government’s Ministry of Housing, Communities and Local Government, with contributions also from the local authorities backing the Western Gateway.
The Severn Estuary Commission is chaired by Dr Andrew Garrad, one of the pioneers of the global modern wind industry. Operating with support from 海角视频 and Welsh Government, the commission brings together a wide range of experts with expertise in engineering, the environment and finance to finally provide an answer to the issue of how to harness huge renewable energy resource potential of the estuary for the 海角视频.
Mike Dobson, new energies portfolio manager at the Crown Estate, said: “The Severn Estuary is a vital natural resource with immense environmental and economic significance. No one source will deliver the 海角视频’s energy transition; we must explore a range of technologies as part of our future energy mix.
“Tidal power can have a role to play within that and we believe the important characteristics of a good tidal range project are a scheme which makes a positive case for nature, is focussed on positive outcomes for communities and which represents efficient use of the seabed.
“We’re pleased to support the work being undertaken by the Severn Estuary Commission to develop an evidence-based view on the region’s potential for clean renewable energy.”
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Sarah Williams Gardener, chair of the Western Gateway, said: “The Severn Estuary is at the heart of our cross-border region, with enormous potential to drive sustainable economic growth. We are incredibly grateful for the backing from The Crown Estate. Their contributions will enable the Severn Estuary Commission to advance essential work that aligns with our shared vision for a prosperous, green, and resilient future.”
The commission has also been boosted with the appointed of Ian Simms, the founder and chief executive of investment management firm specialising in the clean energy sector, Impax Asset Management, as one of its seven commissioners. Impax manages $45bn (US) of funds and is a world leading investment manager focused on the transition to net zero.
As a commissioner he will lead on the financial strategy and oversight, to determine how potential tidal energy projects may be financed in the Severn Estuary.
Mr Simms said: “I am delighted to take on the role of a commissioner for this groundbreaking project. The scale and significance of the Severn Estuary’s tidal energy potential demand a thoughtful and innovative financial approach. My focus will be on ensuring that we develop a robust and credible financial framework that supports the ambitious goals of this project and aligns with the long-term vision for sustainable energy in the 海角视频. I look forward to collaborating with the commission, consultants, and stakeholders to deliver a financial strategy can meet both the immediate and future needs of this transformative initiative.”
With one of the world’s highest tidal ranges any Severn barrage would have a price tag of tens of billions and would need 海角视频 and Welsh Government endorsement, which the former could seek to de-risk through a hybrid bill. A number of Severn Barrage projects have been proposed over the last few decades.
One proposal, from a company called Hafren Power, was for an 18 kilometre long structure with energy-generating turbines along its length from Lavernock Point in the Vale of Glamorgan to the Brean Peninsula on the English side of the estuary in Somerset. While it had some political support there was strong opposition in the west of England including from the Port of Bristol with concerns over the impact on its shipping flows. The project was rejected by the 海角视频 Government in 2013.