Atlantis Energy is gearing up to start work on a new tidal stream energy project in the Pentland Firth and Orkney Waters located north of mainland Scotland.
The move comes after Atlantis-owned company MeyGen announced a 398MW 25-year seabed lease with the Crown Estate.
The lease follows on from MeyGen’s previous five year lease, signed in October 2010 for the Inner Sound of the Pentland Firth, and is the largest marine energy lease ever to be awarded by the Crown Estate.
The lease signing coincides with Atlantis securing the necessary funding for Phase 1A of the project, which it is thought exceed £50million. The phase will include the construction of onshore and offshore facilities.
The project, which is due to be completed by 2016, will consist of up to 269 turbines and could generate enough energy for 175,000 homes in Scotland.
Dan Pearson, chief executive of MeyGen, said: “Signing the lease with The Crown Estate is a significant achievement being the first of its kind and demonstrates how a commercial scale energy project can be designed, consented, engineered and funded within four years. This is the culmination of a talented and committed team working alongside stakeholders and governments who are determined to launch a new energy sector within Scotland and the UK. We are thankful to all who have helped us along the journey and look forward to delivering the first phase.”
Recommended for you
