Tidal Lagoon Power has reduced its headcount by almost one-fifth as it cuts costs to focus on getting its proposed Swansea Bay tidal lagoon over the line.
The Gloucester-based developer would not confirm exact numbers but said the cutbacks to its around 100-strong staff were necessary as it concentrates on developing the proposed 320MW Swansea Bay project, as well as full-scale lagoons planned for Cardiff and Newport.
A spokesperson for Tidal Lagoon Power said: “Our short-term priority is the construction of the Swansea Bay tidal lagoon and the progression of plans at Cardiff and Newport to harness the country’s best tidal range resource in the Severn Estuary.
“Our team needs to align with these objectives and regretfully that involves some redundancies.”
Swansea Bay is the first of six planned lagoons, which include five full-scale lagoons at Cardiff, Newport, West Cumbria, Colwyn Bay and Bridgewater.
“Our vision remains unchanged. We aim to provide 8% of the UK’s electricity from six tidal lagoons and we have grown quickly so as to take forward these plans,” added the spokesman.
“However, our first project in Swansea Bay is now scheduled to start on site one year later than planned and that inevitably impacts the development of the fleet.”
Image (Tidal Lagoon Swansea Bay)
Tidal Lagoon Power cuts jobs
Redundancies announced in order to get Swansea Bay project 'over the line'
By EBS