Atlantis boss Tim Cornelius hopes new scheme will be the “pathfinder project the UK government is looking for”.
The Duchy of Lancaster and Atlantis Resources have signed an agreement to develop the tidal barrage in the Wyre estuary.
The agreement lays out the terms of a long-term lease of the riverbed required to develop the Wyre estuary tidal barrage and flood protection scheme. If successful, it will join the other schemes in marine energy firm Atlantis’ portfolio of marine energy projects.
Feasibility studies have already shown the project in the Wyre estuary could deliver 160MW of capacity, capable of providing 300GWh of clean power each year, as well as improved flood management for the area, according to Atlantis.
Atlantis chief executive Tim Cornelius described the scheme as the “pathfinder project the UK government is looking for”.
“We believe our tidal barrage and flood protection project in the Wyre estuary offers a route to low cost, predictable and sustainable domestic electricity supply,” said Cornelius.
He added it had 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,” said Cornelius.
The agreement with the Duchy paves the way for Atlantis to seek relevant consents from Wyre and Lancashire councils, a process it estimates will take around three years.
The project is part of a wider push from Atlantis to develop a range of tidal energy projects beyond its initial Meygen tidal turbine project (pictured) in Scotland.