Boost for Scottish tidal energy industry

Tidal energy company Atlantis has announced a partnership with an investment firm. The firm and Equitix, which has more than £1.7 billion of funds under management, will develop tidal power projects […]

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By Jacqueline Echevarria

Tidal energy company Atlantis has announced a partnership with an investment firm.

The firm and Equitix, which has more than £1.7 billion of funds under management, will develop tidal power projects in Scotland worth 650MW of capacity.

Equitix will get at least 25% of each Atlantis project under the agreement.

Atlantis expects to invest almost £500 million in tidal projects across Scotland.

That includes £51 million already committed for the construction of the first phase of the MeyGen project, which is scheduled to produce first power this year.

Tim Cornelius, CEO of Atlantis said: “This agreement with Equitix, a leading infrastructure investment specialist, is an important step for us in engaging a partner with both vital experience of large infrastructure projects and access to extensive capital, coupled with a desire to work with us to accelerate the further development of the UK’s tidal power industry.”