The consortium behind a pioneering tidal power project in the Pentland Firth have secured €20.3 million (£17.6m) of European funding.
The Demotide scheme, which aims to create a 6 megawatt turbine array next to Atlantis Resources’ existing MeyGen project, will begin construction this year, with first power expected to be generated in 2018.
Demotide will set tidal on a path to cost parity with offshore wind by 2020Tim Cornelius
In November, Aim-quoted Atlantis hailed a “milestone” event when the first phase of MeyGen generated electricity for the first time.
The Demotide consortium partners – comprising Atlantis subsidiary Marine Current Turbines, marine services group DEME, engineering firm Innosea and Queen’s University Belfast – said the project aims to demonstrate the technical and commercial viability of larger turbines, “further de-risking the industry and providing a robust path to significant cost reduction in the European tidal power sector”.
Shane Donohue, lead project investigator for Queen’s University Belfast said that the Demotide project “has the potential to transform the tidal energy industry”.
Atlantis Resources chief executive Tim Cornelius, added: “MeyGen is the world’s most high-profile tidal stream project and we are delighted to be working with the European Commission and this world-leading consortium of marine renewable energy experts to ensure that Europe remains at the forefront of tidal power knowledge creation.
“This project will help the tidal stream industry demonstrate reductions in the price per unit of electricity by increasing the energy yield per pound of investment. Demotide will set tidal on a path to cost parity with offshore wind by 2020.”