Atlantis Resources 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.
The process of obtaining all necessary consents to begin development is expected to take approximately three years, the Edinburgh-based tidal energy developer Atlantis said.
Atlantis will now work with the Duchy of Lancaster, the Wyre and Lancashire councils, local stakeholders, BEIS, the supply chain and investors as the lead developer to progress the project.
The feasibility studies for the project indicate the optimal installed capacity for the project is 160MW, with forecast production of almost 300 GWh of sustainable energy each year.
The project would be mainly located on the Duchy estate between Fleetwood and Knott End on the Lancashire coast.
Tenders are expected to be issued early next year and, according to Atlantis, it has already started discussions with potential development stage investors.
Tim Cornelius , CEO of Atlantis, said: “This is the pathfinder project the UK 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, a well understood and proven predictable renewable energy technology will stimulate local economies across the country, establishing improved infrastructure and creating job and supply chain opportunities.
“Tidal barrages will also provide a good balance for the UK’s renewable portfolio which is currently heavily weighted with intermittent offshore wind.”
Graeme Chalk , Duchy Head of Project Management and MD of the Foreshore Survey, said: “The introduction of a tidal barrage between Fleetwood and Knott End could bring great benefits to the local economy as well as cheaper, cleaner energy and we look forward to seeing Atlantis deliver these as the project progresses.”
To remind, Atlantis formed partnership with Natural Energy Wyre in February 2017 to develop the 160MW Wyre project, following the launch of its new division Atlantis Energy dedicated to the development of non-tidal stream projects such as tidal lagoon, tidal barrage and offshore wind projects.