Atlantis Resources – a global leader in baseload tidal marine power generation – has signed heads of terms with the Duchy of Lancaster for an option for the long-term lease of the riverbed required to develop the Wyre estuary tidal barrage and flood protection project
Feasibility studies show that the project’s optimal installed capacity is 160 MW, with forecast production of almost 300 GWh of sustainable energy each year.
Atlantis – which is building the world’s largest sea-bed tidal energy turbine farm off Caithness through its MeyGen subsidiary – will now work with the marine industry supply chain and investors to progress the project.
Tenders are expected to be issued early next year. Atlantis has also commenced discussions with potential development stage investors
Along with similar projects being planned in Cardiff, the Solway, the Mersey tidal power project will aim to benefit from the government’s devolution agenda which empowers the new combined authority mayors, or ‘metro mayors’ in England to access the £900 million, 30-year investment fund created to promote projects that will stimulate economic growth in their regions.
Tim Cornelius, Atlantis chief executive, said: “Our tidal barrage and flood protection project in the Wyre estuary offers a route to low cost, predictable and sustainable domestic electricity supply.
“This is the pathfinder project the British government is looking for, with the potential to facilitate wide-scale development of the UK’s enviable tidal range resources.
“The development, construction and operation of tidal barrages is a well understood and proven, predictable renewable energy technology will stimulate local economies across the country.”
22 Nov 2017