Atlantis Resources, a marine renewable energy specialist active in Scotland and listed on the London Stock Exchange, has entered negotiations with the Duchy of Lancaster, one of the Queen’s property portfolios, as its preferred developer for the proposed Wyre Valley tidal barrage and flood protection project.
The project would be chiefly situated on the Duchy estate between Fleetwood and Knott End on the Lancashire coast. Atlantis Resources has been working with local business partnership, Natural Energy Wyre, to work up its plans. Natural Energy Wyre is advised by Mott Macdonald, Arcadis, BAM Nuttall and Andritz Hydro.
The estimated cost of the project has not been set out by Atlantis at this stage. Atlantis said it will now work with its development partners, supply chain and investors to progress the project.
Atlantis and the Duchy will now enter into a period of negotiation to reach agreement regarding an option for a long-term lease for the proposed site to permit the development of a tidal power scheme with a proposed installed capacity of 160 MW. It is currently predicted that the project would be capable of producing almost 300 GWh of sustainable energy each year, coupled with flood protection capabilities. It is expected that the process of obtaining all necessary consents to begin development will take approximately three years, but this option agreement would give the necessary rights and access for the majority of the required land.
Tim Cornelius, chief executive of Atlantis, said: “The Wyre Valley tidal barrage and flood protection project represents a hugely exciting opportunity to showcase the UK’s world leading commercial tidal energy potential. We believe that the project will help to stimulate the local economy in Fleetwood, bring wider benefits to the region, and represent a cost-effective option for clean, large scale domestic power production.
“This will be a major project for our Atlantis Energy division as we continue our diversification strategy and we look forward to working with the Duchy of Lancaster our partners, investors and supply chain to bring the project to fruition.”
In 2014, Atlantis partnered with Scottish Enterprise, the Department of Energy & Climate Change, the Crown Estate and Highland & Islands Enterprise to deliver the world’s first multi turbine array, MeyGen Phase 1A, in Pentland Firth on the north-east tip of Scotland. By the early 2020s MeyGen intends to deploy up to 398MW of offshore tidal stream turbines to supply clean and renewable electricity to the UK National Grid.