Atlantis has announced it is in talks with the Duchy of Lancaster over the proposed Wyre Valley tidal barrage and flood protection project.
In a statement, Atlantis said they 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.
The 160MW tidal power scheme has been in development for several years and would be situated on the Duchy estate between Fleetwood and Knott End on the Lancashire coast.
It is expected that the process of obtaining all necessary consents to begin development will take approximately three years.
In February, Atlantis agreed a new partnership with Natural Energy Wire to develop the 160MW project.
The chief executive of Atlantis, Tim Cornelius, said the Wyre Valley project is 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,” added Cornelius.
“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 other news, the Scottish Government has granted planning consent for a 30-turbine tidal park, near Islay.
West Islay Tidal Energy Park will have a generating capacity of up to 30MW, enough to power around 18,000 homes.
“Scotland has a third of UK’s tidal stream resources and two thirds of its wave resources,” said Scottish business and energy minister, Paul Wheelhouse.
“The West Islay Tidal Energy Park builds upon this strong foundation. Its 30 turbine array will generate up 30MW, enough to power almost 18,000 homes, helping us to generate more clean, green electricity in Scotland and to meet our climate change obligations.”
Lindsay Roberts, senior policy manager at Scottish Renewables, commented: “This announcement shows the continued ambition of this young sector as well as underlining the local employment and economic benefits which renewable energy can bring to some of our country’s most remote areas.”