Investment to kick start tidal projects in Britain and India
The family that bought Caparo Tubular Solutions and saved 333 jobs has made an eight-figure investment in the development of tidal lagoon power plants in Britain and India.
The move is part of a wider strategy by SIMEC, a Gupta family concern, to create multi-billion pound renewable energy capacity worldwide and apply innovative technologies to provide low-cost power for energy-intensive industries, particularly steel.
SIMEC and sister company, Liberty House, have spent the past 12 months acquiring power generation, steel production and engineering capacity across the UK, including Uskmouth Power Station, a 393MW coal fired facility in Newport.
Today’s agreement gives Gupta interests a substantial stake in Tidal Lagoon Plc, a holding company established by Tidal Lagoon Power Ltd to finance the development of full-scale tidal lagoons in UK and international waters.
The Swansea Bay Tidal Lagoon is expected to give the UK the expertise required to deliver a programme of larger lagoons. Tidal Lagoon Power is pursuing five such schemes that, combined with the Swansea Bay project, could meet 8% of UK electricity demand for 120 years.
Register now to continue reading
Thanks for visiting The Engineer. You’ve now reached your monthly limit of news stories. Register for free to unlock unlimited access to all of our news coverage, as well as premium content including opinion, in-depth features and special reports.
Benefits of registering
-
In-depth insights and coverage of key emerging trends
-
Unrestricted access to special reports throughout the year
-
Daily technology news delivered straight to your inbox
Radio wave weapon knocks out drone swarms
Probably. A radio-controlled drone cannot be completely shielded to RF, else you´d lose the ability to control it. The fibre optical cable removes...