Prudential invests 1billion pond in Tidal Wave Power

Renewable energy, tidal wave power, Lagoon Swansea Bay Project

Prudential invests 1 billion Ponds in Wave Power

Tidal energy gets a boost from the insurance giant Prudential. The company of CEO, John Strangfeld invests £1 billion in Tidal Lagoon Swansea Bay Project. Produntial lives the sustainable policy with all her employees and now also by investing in renewable energy. 

 

This investment is a significant step to securing the future of the power station, which will become the world’s largest tidal energy provider when it opens in 2018.

It will also form the first step in the development of a network of coastal lagoons which could generate up to 8 per cent of the UK’s electricity needs. The exact amount involved has not been revealed although it is thought it could be close to £100 million.

Tidal energy

Tidal lagoon technology traps water at high tide in vast specially-constructed pools and releases it through turbines to generate low-carbon electricity. Water also passes through turbines as the tide comes in generating more electricity. The artificial lakes can be used for leisure activities such as boating, creating a tourist attraction.

Pro’s

  • Renewable. Requires no fuel
  • Emission-free
  • Reliable, a plant can last 100 years
  • High efficiency
  • Predictable output
  • Could potentially provide a storm surge barrier.
  • Environmental impacts are local, not global

Con’s

  • Expensive to build
  • Very location specific (only 20 sites identified with high potential)
  • Locations are often remote
  • Barrages may restrict access to open water
  • Impact on fish, marine mammals and birds
  • Disrupts regular tidal cycles
  • Might decrease salinity in tidal basins
  • Mud flats (where many birds feed) adversely impacted

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