The £10bn plans to spearhead tidal ¬lagoon power projects in Wales could fall apart after the Treasury vowed to tighten its grip on green spending until the pressure on energy bills eases. The fate of green industrialist Mark Shorrock’s £1.3bn front-runner tidal scheme in Swansea could now depend on whether government believes the plans warrant a place in its industrial strategy, which will be unveiled this week. Experts have warned that without this endorsement the high-cost pioneer project could lose out to cheaper wind schemes in a fierce competition for the remaining £557m of funding still up for grabs. Richard Howard, an energy expert at Aurora Energy Research, said the Treasury’s decision to offer no new funding once the pot runs dry “does not bode well” for tidal power.
Telegraph 25th Nov 2017 read more »
Atlantis, a global leader in the predictable tidal marine power generation sector, announces that it 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 “Project”). Feasibility studies indicate that the Project’s optimal installed capacity is 160 MW, with forecast production of almost 300 GWh of sustainable energy each year. This would be coupled with flood protection capabilities and other amenities. It is expected that the process of obtaining all necessary consents to begin development will take approximately three years. Atlantis will now work with the Duchy of Lancaster, the Wyre and Lancashire councils, local stakeholders, BEIS, the supply chain and investors to progress the Project. Atlantis will be the lead developer of this important infrastructure project. Tenders are expected to be issued early next year and the Company also has commenced discussions with potential development stage investors and will update the market on the outcome of these discussions in due course.
Atlantis Resources Ltd 31st Nov 2017 read more »