New tidal deal announced

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The company developing the MeyGen marine energy project in the Pentland Firth is joining forces with ScottishPower Renewables (UK) Limited to establish the largest tidal stream portfolio in the UK.

Atlantis Resources’ flagship MayGen venture is currently under construction. The aim is to deploy an array of turbines offshore, using technology tested at the European Marine Energy Centre in Orkney. Four 1.5 megawatt (MW) tidal turbines will be deployed next year.

SPR’s tidal power portfolio includes a 100 megawatt (MW) development at the Ness of Duncansby, also in the Pentland Firth.

Tim Cornelius, chief executive officer of Atlantis, said: “The UK is now synonymous with tidal power in the same way tech is with Silicon Valley. Thanks to the dedicated support provided by the Department for Energy and Climate Change and the Scottish government, the UK tidal sector is leading the world.

“In a transformational 12 months, we have increased our UK projects portfolio by almost 80% in terms of potential capacity.

“By 2022, we aim to have at least 640MW of installed capacity in the UK through development of our existing portfolio, and in the process we want to help build a UK-based supply chain based on world class manufacturing.”

Keith Anderson, chief executive officer of ScottishPower Renewables, said: “The MeyGen project has moved the tidal power sector forward in Scotland and Atlantis is now the world’s leading developer. This agreement will drive momentum in the sector.”

Atlantis’s Scottish project development vehicle, Tidal Power Scotland Limited (TPSL), will acquire SPR’s portfolio of tidal projects in exchange for a 6% shareholding in TPSL for SPR.
 

Contact Information

c/o Maureen Shearer, Development Manager, HIE, 14 Queen Street, Kirkwall
KW15 1JE Scotland

T: 01856888710

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