Tidal power firm Atlantis returns seabed leases to The Crown Estate

Tidal power firm Atlantis Resources has returned its ‘Agreements for Lease’ (AFLs) for the Anglesey Skerries site in  Wales and the Kyle Rhea site in Scotland to The Crown Estate.

Atlantis Resources said it decided to hand back the AFLs after an internal project portfolio and site assessment review. The company will now prioritise other sites that are currently under construction and/or closer to reaching financial close.

Tim Cornelius, cheif executive of Atlantis, said: “This strategy will enable us to focus our resources on our most developed sites in order to drive progress and deliver continuous, clean, and predictable supplies of energy, quickly and at scale, to power homes and business throughout the UK and contribute towards the UK’s energy infrastructure needs.

“Due to the abundance of natural resource and a supportive government, Wales remains a jurisdiction of high interest to Atlantis and we will continue to actively seek out commercially and financially viable project development and investment opportunities and would welcome commercial approaches from any developer with commercial scale project locations in Wales.”

Survey work and data from both project sites will be made publicly available through The Crown Estate’s Marine Data Exchange.

Related stories:

Questions over Swansea Bay lagoon must not delay other tidal power opportunities, say developers

From the archive: Swansea’s tidal lagoon – how does it work and where are the costs?

From the magazine (subscribers only): Industry efforts to generate electricity from the UK’s tides will enter a critical new phase in 2016 with installation of the world’s first mini array of utility-scale turbines off the Scottish coast

Subscribe to New Power for full analysis, comment, interviews and data in our monthly report, and access to our database, or sign up to our FREE e-newsletter for website updates