(Renewable Energy World), Oct. 16, 2020 -Back in 2018, the plans for the Swansea Tidal Lagoon were rejected by the UK Government, but within the same month, Westminster issued a statement outlining their full support for Anglesey’s new £20bn ($25.7bn USD) nuclear reactor, Wylfa B.
Wylfa’s perceived virtue, over the clean energy lagoon, was that nuclear represented greater value for money, and that it would create better returns and employment opportunities in the long run. On the back of these factors, the government confirmed that taxpayers would benefit from investing public-purse money into the project.
However, just last week, after £2bn ($2.5 USD) had already been spent in development (using both taxpayers’ money and investment from Hitachi), the plug was pulled on the venture. Hitachi has not publicly commented about their withdrawal from the project, but speculation is rife that the move has come amidst rising costs and disputes with the government. This private-sector exit spells the end of the Wylfa B project.