It’s called a Bell-Mouth Spillway, and its an added safeguard against flooding at dam sites. Dams often have human controlled mechanisms for allowing water to pass through downstream, especially in cases where the water is used to generate electricity. But in the case of floods, high water spilling over the dam can damage and sometimes compromise the structure—and a dam failure can be catastrophic. The spillway provides an alternate exit for rising waters, allowing it to safely rush downstream before it ever reaches the top of the dam:
Water rushing down a bell-mouth spillway (Via Imgur, click for larger size)
There’s no indication as to what dam is being served by the above spillway, but one about that size is capable of eliminating 362,000 gallons of water PER SECOND.
And to answer the obvious question: No, you cannot ride the spillway. You will die.
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Here it is in dry times http://goo.gl/maps/9WP0C
This is at the Ladybower Reservoir in Derbyshire, England. It’s just South of Sheffield in the Peak National Park.
The photo is of Ladybower Reservoir, a large Y-shaped reservoir, the lowest of three in the Upper Derwent Valley in Derbyshire, England