Atlantis signs riverbed lease agreement for Wyre Tidal Project

Atlantis Resources has signed an agreement with the Duchy of Lancaster to obtain a long-term lease for riverbed to develop and build a 160MW Wyre Tidal Project.

The Wyre estuary tidal barrage and flood protection project will be located near Fleetwood and it is expected to have 300GWh of annual capacity in clean energy, generated from tidal forces.

Atlantis said that to obtain all the necessary consents to start the development is expected to take at least three years. It is in discussion with potential development stage investors for the project. 

Atlantis CEO Tim Cornelius said: “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. This is the pathfinder project the UK government is looking for, with 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.”

The Edinburgh-based company be the lead developer of the infrastructure project. To advance the project, it will work with the Duchy of Lancaster, the Wyre and Lancashire councils, local stakeholders, BEIS, the supply chain and investors.

Atlantis claims that the project will be a low cost barrage and a pathfinder for a series of several barrage projects that will be developed across the UK in the near future.

Foreshore Survey managing director and Duchy project management head Graeme Chalk said: “As a responsible landowner, the Duchy is committed to encouraging sustainability in all its forms, including the generation of sustainable energy.

“The introduction of a tidal barrage between Fleetwood and Knott End could bring great benefits to the local economy as well as cheaper, cleaner energy and we look forward to seeing Atlantis deliver these as the project progresses.”