Prudential first to back Swansea Bay tidal lagoon

Tidal Lagoon Swansea Bay for new website
By Jon Hay
20 Oct 2014

Prudential, the UK insurance company, has become the first investor to commit construction funding for a tidal power project off the Welsh coast.

The Tidal Lagoon Swansea Bay is being promoted by a private company, Tidal Lagoon Power Ltd (TLP), which believes it will cost £1bn ($1.6bn) and wants to start construction in 2015. 

Prudential’s long-term insurance funds are committing “up to £100m” to Tidal Lagoon Swansea Bay Plc (TLSB) in a ...

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