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Tidal Lagoon Power

Tidal Lagoon Power has sold a £10m stake in its Gloucester-based renewable energy business to the Gupta family.

Tidal Lagoon Power has unveiled proposals to develop a further five tidal power projects in Cardiff, Newport, West Cumbria, Colwyn Bay and Bridgwater Bay.

Tidal Lagoon Power is considering three potential sites in South Wales for a 100,000 sq ft turbine assembly plant, with the creation of up to 100 jobs.

Tidal Lagoon Power is to relocate its headquarters and 40 staff to Gloucester Docks, where it will be joined by 95 staff from partner companies Atkins and Costain.

Tidal Lagoon Power is looking into the possibility of building a £2.2bn tidal power project at Colwyn Bay in North Wales, with the creation of 2,500 jobs.

Tidal Lagoon Power is seeking investors to fund the development of a £650m 250MW tidal power plant in Swansea Bay from 2017.