The new division named as Atlantis Energy will focus on various projects on behalf of infrastructure funds, investment banks and private developers who are looking to invest in renewable and grid related projects in the UK.
Initially, the division will focus on opportunities to develop subsea interconnectors, tidal barrage projects, tidal lagoon projects, floating offshore wind opportunities and pumped storage projects
Establishing a new division is part of Atlantis Resources diversification strategy which will leverage the existing skill set of the company.
Atlantis CEO Tim Cornelius said: ““We have developed an exceptional project origination and development team at Atlantis over the past 10 years. The lessons learned and the skills developed during the progression of MeyGen and our entire tidal portfolio have a direct application in power projects that involve water, especially salt water.
The new division, which will have a global remit, will be based in its Edinburgh headquarters.
Atlantis Energy will offer origination, development and project management services to infrastructure funds, banks and private developers.
The division is expected to become operational by the end of Q1 2017.
Cornelius said: “We are aiming to establish ourselves as one of the world’s leading developers of wet renewables, and to be the partner of choice for infrastructure funds seeking to invest in interconnectors, tidal barrage, pumped storage, floating offshore wind and, of course, tidal stream projects.
“We have been scouring the UK, Europe and Asia for development and investment opportunities and we have already commenced due diligence on a short list of potential projects. We hope to be able to present these investment opportunities to a select group of infrastructure funds in H1 2017.”
