Tidal generator Marine Current Turbines is due to install one of Scotland’s first tidal farms, off the coast of the Isle of Skye.
The farm may produce as much as 8MW, the equivalent electricity to power nearly 8,000 homes.
MCT secured an agreement for lease from the Crown Estate for a four turbine tidal farm in Kyle Rhea,a strait of water between the Isle of Skye and the Scottish mainland.
The cost of the scheme will be £40million and will be provided by a combination of private sector finance and UK Government support. The Department of Energy and Climate Change’s Marine Renewable Proving Fund put £2.7m toward the project.
Martin Wright, CEO of Marine Current Turbines said: “The UK and Scottish Governments recognise the opportunity that tidal and wave energy offers and we hope that they will give greater incentives over the next 12 months to the market in order to make it happen.
“Specifically we believe that five Renewable Obligation Certificates, rather than the present three in Scotland for tidal, is crucial to attract the investment that is required.”