Giant tidal power developer Atlantis – which is building the biggest subsea tidal array in Europe in the Pentland Firth – has agreed a new deal to develop tidal energy in Indonesia.
Atlantis will collaborate with SBS International Ltd, a privately-held developer which has been studying the potential of ocean energy resources for tidal-stream devices around the Indonesian archipelago since 2013.
Under this agreement, Atlantis and SBS will work together to establish a joint venture to develop a 150MW tidal stream site in Indonesia. The total cost of this commercial array is estimated at $750 million.
SBS has completed a feasibility study and the project will be supported by a 25-year power purchase agreement with the state-owned electricity company, Perusahaan Listrik Negara.
Michael Spencer, Chairman and CEO of SBS, said: “We are delighted to be entering into this agreement with Atlantis, whose experience and industry leading marine energy expertise will complement our own and help us to advance the development of the first commercial-scale tidal array in South East Asia.”
Tim Cornelius, Chief Executive, Atlantis, said: “The Indonesian archipelago of over 17,000 islands represents an extremely promising tidal stream resource.
“This also represents an opportunity for us to demonstrate our industry leading tidal energy technology in a range of tidal conditions and export some of the intellectual property we have created through the development of the MeyGen project from Scotland to other parts of the world.”
Atlantis has the largest portfolio of tidal power projects in the UK, which represent a combined potential capacity of almost 700MW, in addition to other development projects in China, Canada and India.