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The deal for carrying out marine works on the £1-billion Swansea Bay Tidal Project has been bagged by Chinese state-owned company, China Harbour Engineering Company (CHEC).
Swansea Bay is set to become the world’s first tidal lagoon project, and would be generating clean energy for Britain’s National Grid, potentially enough for 120,000 homes, according to a Financial Times (FT) report. It will involve turbines working 14 hours a day and is expected to win planning permission this month, with work due to start next spring.
Lin Yi Chong, president & chief executive of CHEC, said the deal marked a “strategic decision to enter the UK infrastructure and construction market”, and the company had already established a UK subsidiary to look at investment opportunities in the country over the next decade.
As part of the deal with Swansea Bay Tidal Lagoon Power, CHEC has also agreed to look at projects in Asia, particularly along China’s 18,000-km coastline, reported FT.
Andrew McNaughton, former Balfour Beatty chief executive and the current director of engineering and construction at Tidal Lagoon Power, stressed the need to draw on international experience. He said no British company had the right experience and capability to build the marine works for the tidal plant.
McNaughton also hinted at future possibility of developing Tidal energy as a domestic industry which could be later exported to countries like France and India.
