Plans for a £1.3bn tidal lagoon in Swansea Bay could take a significant step forward if the scheme is backed by a final report on Thursday. Charles Hendry will publish his report into the viability of the renewable energy technology later. There are already hopes of developing a network of even larger lagoons around the UK coast. The UK government still needs to agree on a deal and a marine licence would also need to be approved. Former UK energy minister Mr Hendry has been gathering evidence for nearly a year for his independent inquiry, including visits to all the potential sites and discussions with industry. Speaking ahead of the report, Mr Hendry said he believed the tidal lagoon industry was affordable. “If you look at the cost spread out over the entire lifetime – 120 years for the project – it comes out at about 30p per household for the next 30 years. That’s l ess than a pint of milk,” he told BBC News.
BBC 12th Jan 2017 read more »
Atlantis Resources is launching a division to develop large-scale renewable power projects outside its specialist area of tidal energy. The company said that it was responding to investor demand and was conducting due diligence on schemes in the UK. Atlantis Energy, as the division will be known, plans to cover offshore wind, subsea interconnectors, tidal barrage, tidal lagoons and pumped storage. Tim Cornelius, chief executive, confirmed that new jobs would be created at the AIM-quoted group’s Edinburgh headquarters. He said: “We will be using internal resources and bringing on somewhere between five and fifteen heads. It will be a function of how many projects we take on.” He added that utilities, pension funds and infrastructure investors had approached Atlantis about managing projects for them. The group is best known for its MeyGen tidal power project. The largest tidal stream project in the world, backed by public and private money, it recently began generating its first electricity in the Pentland Firth, off the north coast of Scotland. A partnership with Equitix, the infrastructure fund, was struck last year to allow it to acquire at least 25 per cent of Atlantis’s tidal schemes around Scotland when they reach financial closure.
Times 12th Jan 2017 read more »
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