The Severn Estuary holds the second highest tidal range in the world and within this Swansea Bay benefits from an average tidal range during spring tides of 8.5m. The construction of a tidal lagoon to harness this natural resource would help the UK transition a low carbon future with greater energy security and lower electricity costs, while providing regenerative economic and recreational benefits to the local community.
The vision for Tidal Lagoon Swansea Bay (TLSB) is to build the world’s first man-made, energy generating lagoon with a 320MW installed capacity providing 14 hours of reliable energy generation every day. The clean, renewable and predictable energy produced would be enough to power 150,000 homes with a 120-year life. The total contract value of TLSB is circa £1bn and covers the Operations & Maintenance phases as well as the civil construction and procurement.
In addition to the energy production, TLSB would bring significant tourism to the Swansea Bay area, provide sports, recreation and education opportunities as well as creation of a significant number of jobs for the local community.
Equib were commissioned in Spring 2015 to provide risk management services including qualitative and quantitative analysis to support the project during the Advanced Works Phase (AWP). Equib were responsible for the project risk register which covered the 6 main construction contracts as well as the strategic risks for the business in achieving Financial Close and the start of construction.