Atlantis Resources, the Edinburgh-headquartered firm behind the world-leading MeyGen tidal energy project in the Pentland Firth, is focusing on overseas opportunities after failing to win subsidy support for an extension to its flagship Scottish project. As expected, the MeyGen project was unsuccessful in the UK government’s latest contract for difference (CfD) scheme for large-scale renewable projects which saw the Moray East offshore wind project and a biomass project in Grangemouth secure support. Although it had forecast a significant reduction in the level of revenue support required for “phase 1C” of the project compared to the first phase, the company said it lost out to more established technologies such as offshore wind which were able to undercut it. Atlantis said it was now in discussion with officials from the Department for Business, Energy and I ndustrial Strategy (BEIS) over ways in which marine energy could “compete on a level playing field” in the next auction round.
Scotsman 12th Sept 2017 read more »