DST Innovations, in association with several other business partners, with support from Swansea Council and Associated British Ports, have announced a £1.7 billion ($2,3 billion) project: Blue Eden project.
On Swansea's seafront, Wales, this project will include a newly-designed tidal lagoon, with underwater turbines that will generate 320 megawatts of renewable energy, to be delivered in three phases across the span of 12 years.
According to reports, the project will include:
A 60,000 sqm manufacturing plant where batteries will be produced for renewable energy storage
A battery facility to store the renewable energy produced by the projects
A 72,000 sq m floating solar array
A 94,000 sqm data center that will store, process and provide network capabilities
A research center focussing on climate change
Cultural and scientific centers
A number of residential waterfront homes to house 5,000 people
150 eco-homes
Tony Miles, Co-founder and Chief Executive of DST Innovations, commented: "Blue Eden is an opportunity to create a template for the world to follow – utilising renewable energy and maximising new technologies and thinking to develop not only a place to live and work, but also to thrive."
Meanwhile, Cllr Rob Stewart, Swansea Council Leader, said: "We are aware now more than ever of the need to develop renewable energy supplies to provide sustainable and affordable electricity to families and businesses.
"Blue Eden will put Swansea and Wales at the cutting-edge of global renewable energy innovation, helping create thousands of well-paid jobs, significantly cut our carbon footprint and further raise Swansea's profile across the world as a place to invest.
"I'm delighted that an international consortium led by a Welsh company has developed our Dragon Energy Island vision into a ground-breaking project that delivers so many benefits and builds on the council's ambition to become a net-zero city by 2050.
Further to this, Stewart outlined that the project is a "game-changer for Swansea," particularly for its economy and renewable energy in the UK. He added that the project can be delivered without the need for government subsidies.
Looking forward, construction on the project could commence as soon as 2023.
