Atlantis Resources today confirmed it had secured the funding for the next stage of its MeyGen project.
This next phase of the MeyGen site development, known as Project Stroma, is an “important step in demonstrating progress to a lower cost of energy for tidal stream”.
Chief executive Tim Cornelius said: “The lessons we have learned from Phase 1A and the confidence it has given to both us and our supply chain allow us to deliver significant improvements and refinements in this next phase. We believe these improvements will yield more electricity for each pound of investment and represent a material step down our cost reduction curve. STPL has been working towards this investment decision in line with the specified programme for the NER300 fund, which has awarded €16.8 million of grant support to Project Stroma.”
By the early 2020s MeyGen Limited intends to deploy up to 398MW of offshore tidal stream turbines to supply clean and renewable electricity to the UK National Grid.
Project Stroma will include larger diameter rotors to capture more energy from the tidal flow, as well as optimised turbine power ratings. Furthermore, Project Stroma will use drilled foundation structures rather than the material intensive gravity foundations used in MeyGen Phase 1A. The turbines will be provided by Marine Current Turbines Limited, which was purchased by Atlantis from Siemens in 2015 in an all-share deal.