The company said that the move will enable it to start environmental and feasibility studies and continue working with the local community and other groups on the potential to install its Oyster wave energy technology.

Aquamarine Power needs to receive planning consents from Comhairle nan Eilean Siar, the local government council, and government regulator Marine Scotland before any development can take place.

The company has secured two leases: a 10MW demonstration lease for a site between Siadar and Fivepenny, known as the Galson site; and a 30MW lease off north west Lewis.