CONFIDENCE

Atlantis Resources, the Edinburgh-based company behind the ground-breaking Meygen project in the Pentland Firth, is looking to develop a major tidal barrage and flood protection scheme south of the Border.

The renewable energy group revealed yesterday that it was in talks with the Duchy of Lancaster as its preferred developer for the proposed Wyre Valley project.

The pair will now enter into a period of negotiation to reach agreement regarding an option for a long-term lease for the site.

The tidal power scheme, which would be chiefly situated on the Duchy estate between Fleetwood and Knott End on the Lancashire coast, has a proposed installed capacity of 160 megawatts.

It is expected that the process of obtaining all necessary consents to begin development will take about three years, but the option agreement would give the necessary rights and access for the majority of the required land, Atlantis added.

The Scots firm said it would now work with its develop-

0 Atlantis Resources is headed by chief executive Tim Cornelius

TIM CORNELIUS , CEO ment partners, supply chain and investors to take the project forward.

Chief executive Tim Cornelius 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.”

Atlantis Resources swung into the red last year despite its Meygen project coming on stream.

Recent results revealed that the company, whose financial backers include Scottish

“This will be a major project for our Atlantis Energy division as we continue our diversification strategy”