Tidal Lagoon Schemes and Regional Development: Work Package 1: Report Electricity Generation Infrastructure in Wales: Ownership, financing and regulation
Year: 2024
Type: report
Abstract: This Welsh Government Tidal Lagoon Challenge project is led by Cardiff University. We address the objectives of the Challenge Fund by examining potential financing and ownership options for novel tidal range renewables on the coast of Wales. In this first report we examine extant ownership/financing models for energy generation infrastructure to date in Wales and in comparator regions, and to assess their outcomes in terms of sustainable economic development, supporting regional wellbeing, and improving ecosystems condition and functioning. In developing this first report we have undertaken reviews of academic, industry, policy and other literature around ownership and financing of large energy projects. We first examine the contemporary nature of electricity generation in the Welsh economy. The second section then examines the connections between regional electricity generation and local economic development. The third section then explores themes of ownership, regulation and the funding of electricity generation infrastructure in Wales. The fourth section then draws conclusions on connections between different regulatory, financial and ownership models and examines how they link to Welsh economic development outcomes. The report finds that themes in respect of capital ownership link closely with themes in respect of finance. This is all in terms of a current position i.e. our review suggests that it is these themes that have contributed to the economic development pathways around renewable electricity generation in Wales and its current impacts on the residents and businesses of Wales. Future progress in Wales (and other parts of the UK) towards larger scale tidal range projects is expected to relate to these same themes.
Institution: Cardiff University
Language: English
Topic: Wave and Wind Energy Systems
Subfield: Ocean Engineering
Field: Engineering
Domain: Physical Sciences
Open Access status: green
Funder: Cardiff University
OpenAlex ID: W7139301439
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