Plans to build the world’s first tidal power lagoon have been thrown out by the UK government.

Ministers said the £1.3bn project was not value for money, despite claims by developers Tidal Lagoon Power (TLP) a revised offer made it cheaper.

The scheme off Swansea Bay also had £200m backing from the Welsh Government and support from the Wales Pension Partnership.

But the UK government said it would not pay TLP the fee it wants for energy.

However, TLP claimed no talks have taken place for more than a year and supporters of the project have vowed to do what they can to make it a reality.

The announcement brings an end to 18 months of waiting since an independent review, commissioned by the ministers, recommended building the lagoon.

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