The UK government is set to determine the future of Tidal Lagoon Power’s proposed 320MW Swansea Bay project on Wednesday.

A spokesperson for Prime Minister Theresa May confirmed Westminster will provide an update on the scheme, which is seeking a mixture of price support from energy department BEIS and an £200m equity and/or loan investment by the Welsh government.

In a letter to UK energy secretary Greg Clark last week, Welsh First Minister Carwyn Jones said Swansea Bay should be given a Contract for Difference worth £92.50 per megawatt-hour in 2012 prices for 35 years.

The so-called pathfinder project was backed last year in former energy minister Charles Hendry’s independent review into tidal lagoons commissioned by the UK government.

Image: Swansea Bay (Tidal Lagoon Power)