The Crown Estate received tenders from 20 pre-qualified bidders for the wave and tidal energy leases, and the parties range from small developers to multi-national companies.
Bids are to be evaluated by The Crown Estate in terms of capabilities and commitment to safely deploy wave or tidal energy systems, and negotiations are expected to take place over the next few months.
Applications for the leases were made as part of the plans to build more than 700MW of renewable power in the Pentland Firth Strategic Area by 2020. The deadline for submissions was mid-May.
Two years ago the Scottish Government completed a strategic assessment of wave and tidal energy in the country. The pre-qualification stage for the Pentland Firth scheme ran from September to November last year.
The Crown Estate is developing the scheme and leases in partnership with the Scottish Government and Highlands and Islands Enterprise. It said that option fees paid by developers plus its own funds would be used to help risk management of the scheme, which it wants to accelerate.
Further leasing rounds may take place in future for the Pentland Firth as well as potential sites elsewhere around the UK, added The Crown Estate.