Tidal Lagoon Power welcomes Carwyn Jones's cash offer

Wales' first minister has offered £200m to get the Swansea Bay tidal lagoon built, amid reports the UK government is on the point of throwing it out.

The £1.3bn energy project was backed by an independent review, but UK ministers have insisted on value for money.

Carwyn Jones has written to offer a "substantial" stake or loan from the Welsh Government.

But a Whitehall source suggested that the money offered was not enough.

Keith Clarke, Tidal Lagoon Power chairman, welcomed the intervention and said he was ready to respond.