Atlantis forms non-tidal business
Scottish developer widens focus, including floating offshore wind
Atlantis Resources is to establish a non-tidal stream business unit focused on interconnectors, pumped storage, lagoon, barrage and floating offshore wind opportunities.
The offshoot named Atlantis Energy is expected to be operational by the end of the first quarter of 2017.
The company will be based in the tidal developer’s Edinburgh headquarters.
Chief executive Tim Cornelius said Atlantis Energy will initially focus on several near-term opportunities in the UK and Europe.
“We have been scouring the UK, Europe and Asia for development and investment opportunities and we have already commenced due diligence on a short list of potential projects,” he added.
“We hope to be able to present these investment opportunities to a select group of infrastructure funds in the first half of 2017.”
The creation of Atlantis Energy would not “dilute” the company’s focus on tidal stream projects, said Cornelius.
Image: MeyGen Phase 1A foundation (Atlantis Resources)