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Atkins report: "New tidal technology is ready to make a sizeable contribution in UK emissions"

Plans for a pioneering tidal energy project in Swansea Bay have been detailed and confirmed by an independent report from leading engineering firm, WS Atkins Engineering. The tidal lagoon technology has also been backed by environmental campaigners, who welcomed the Atkin's study but warned that continued reticence from the DTI in supporting the concept could result in the UK once more lagging behind rather than leading the world in this new environmental technology.

The report shows that the low-head hydroelectric technology, developed by Tidal Electric Limited, is ready to make a huge contribution to the government's 2010 emissions reduction and will be the UK's most competitive renewable power source producing electricity at 3.4p per kilowatt-hour from the relatively small (60 MW) Swansea Bay project. Larger lagoons offer costs less than 3p due to the concept's strong economies of scale. Tidal power is as predictable as the tides and can help balance some of the UK's less predictable renewable energy sources while protecting vulnerable coastlines from further erosion.

Tidal Electric have targeted the UK for its initial installations but have added development teams in China and Canada. The Chinese government has reviewed this technology and given its approval to build a 300 MW project, the world's largest. A Chinese delegation including the Governor of Liaoning Province (pop. 50.2 million) is travelling to New York to sign a consent agreement and to provide 80% loan finance from the Chinese government. The Canadian team is investigating sites in the Bay of Fundy.

Tidal Electric Limited Chairman Peter W. Ullman said,

"Tidal lagoons are ready to contribute to meeting 2010 targets for emissions reduction by producing commercial amounts of predictable renewable power"

"Atkins confirms that tidal lagoons use conventional power generation equipment and marine construction techniques and pose no unusual challenges. We hope that electricity providers, the National grid, and government will be cheered by this news that another reliable renewable technology is now ready for deployment thereby adding to the mix of immediately available renewable technologies."

Friends of the Earth Executive Director, Tony Juniper said,

"The fight against global climate change will require lots of new sources of renewable energy and the positive results from the Atkins studies indicate that Tidal Electric has been giving a straight story on its costs all along."

"The lack of DTI recognition of the tidal lagoon concept has resulted in several years of delay when the UK could have been world leaders of this innovative idea. The DTI must move tidal lagoons forward in its priorities and support this technology now, where environmentally acceptable, alongside wind, solar, wave and biomass energy sources, rather than keeping lagoons in the 2020 basket of far-off experimental technologies."

The Tidal Lagoon, built of loose rock, sand, and gravel, holds water at high tide and creates power by releasing that water back to the open sea at low tide through conventional hydroelectric turbines and then repeating the cycle at high tide by refilling the lagoon. The technology is a new approach to tidal power conversion, which does not have the environmental or economic problems of the tidal barrage.

Tidal lagoons will have benign or minimal impacts on marine environment and will foster biodiversity by creating new habitats for fish, birds and marine wildlife. Situated a mile or more out to sea, the structures have a low profile and look like a rocky shoreline or island.

The successful outcome of the independent report means that Tidal Electric is looking forward to securing planning consent for the project.

Notes

Chinese signing ceremony will be held at the Waldorf Astoria on Thursday Oct 14, 2002 at 3:30 PM EST.
Preliminary sessions will be conducted at the Yale Club on Vanderbilt Avenue (9:30 to 12 noon).

Tidal lagoons could supply up to 8% of the UK electricity demand.

NM Rothschild are Tidal Electric Limited's Financial Advisor.