The new team behind plans to bring the Swansea Bay Dragon Energy Island to life are starting to set out their stall for a project estimated to cost £1bn.
An international consortium has been brought together by Welsh innovation group DST, with the aim of “placing Wales at the forefront of technical innovation and green energy”.
The Dragon Energy Island aims to be the largest ever development project of its kind to be launched in the 海角视频, creating 1,000 jobs and 10,000 homes.
DST Innovations issued a statement today outlining the latest plans for a project, which has been dubbed the ‘2.0 tidal lagoon project’, after the collapse of an earlier scheme promoted by Tidal Lagoon Power.
However there are no details on how any project, assuming if had planning consent, would be funded and the return on investment for investors.
DST Innovations, based in Bridgend, say the new consortium will significantly contribute to the 海角视频 Government’s ambitious plan for a green industrial revolution in the post-Covid economic landscape.
A spokesman for the consortium said it boasted world-leading organisations with a proven track record of successful billion-pound developments, design and project delivery.
An announcement of the selected consortium members will be made in early 2021.
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A full schedule of planning applications and proposals will be published in the new year.
The consortium’s plan is to integrate a number of additional complementary ‘energy renewables elements’ to create an independently viable project.
DST, the driving force behind the consortium, are the inventors of ground-breaking large-scale battery technology enabling efficient and sustainable energy storage.
DST says the energy storage capabilities are vital to the success of the Dragon Energy Island, solving the problem of storing the energy created by natural power.
“We’re delighted our technology can be utilised in a project of this magnitude,” said a DST spokesperson.
“Our products are designed in Wales and this is an amazing opportunity for us to harness the wonderful natural resources we have in our home nation and unlock the abundance of innovation and talent we hold here.”
DST’s battery production facilities are already taking shape in West Virginia in the United States.
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DST’s plans are for a second manufacturing base in Swansea. The two facilities will work together in partnership.
The Governor of West Virginia, Jim Justice, said: “This is a wonderful day for West Virginia and for the future development of clean energy storage.
“Both West Virginia and Wales are renowned for their coal mining heritage, and this special international partnership will see us both at the forefront of new energy.”
Combined, the DST and Dragon Energy Island project plans to create more than 1,000 highly skilled permanent jobs for the Swansea area alone.
Councillor Rob Stewart, leader of Swansea Council, said: “Swansea Bay offers an unprecedented opportunity to deliver the world’s first truly integrated tidal energy project.
“This project has the potential to spur a new industry not just for Swansea but for Wales and the 海角视频.
“The impacts on employment and our local economy are set to be significant and perfectly timed as we address the post-Covid economy.
“We remain 100% committed to seeing the project delivered in Swansea and are grateful for all of the efforts made by DST to bring together such a strong consortium of organisations with a proven track record of success.”
It is not yet clear where DST’s 海角视频 battery production manufacturing base will be sited in Swansea.
One of the challenges the consortium will face will be in overcoming some of the energy pricing problems which dogged the original Swansea Bay tidal lagoon project.
Earlier this month, Swansea Council announced plans to go net carbon zero by 2050.
The council’s commitment to the Dragon Energy Island project represents one pillar of that net carbon target.
In July, the company behind the initial £1.3bn Swansea Bay tidal lagoon, Tidal Lagoon Power, was told it had failed to discharge the terms of its planning consent, a move which effectively killed off that project.
Last year, Swansea Council issued a prior information notice to bring forward ideas for a new energy project in Swansea Bay.
While at a concept stage, this saw the emergence of the “Dragon Island” branding, with a lagoon, floating homes and solar panels, but also the prospect for onshore renewable projects, as well as an energy company seeking to secure long-term supply contracts with major energy users.
Last year, it was stated the proposed project, which could include 10,000 homes, had an indicative price tag of just under £1bn
Any new offshore project up to and including 350 megawatt of energy production would require consent from the Welsh Government.
Anything above would require a development consent order from the 海角视频 Government.
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At the time, a 海角视频 Government in Wales spokesman said: “The 海角视频 Government does not have any fundamental objection to a tidal lagoon in Swansea Bay; we are open to considering other such lagoons or tidal technology developments.
“But any proposed project for Swansea, or elsewhere on the coast of Wales, must provide value for money in a way that the previous scheme did not.”