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Sun March 07 2021

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Funding deal for Pentland Firth tidal array

22 Aug 14 Construction of the world’s biggest tidal array could start before the end of the year after securing government grants.

An initial four turbines will be deployed as a demonstration phase of the Pentland Firth Inner Sound tidal energy project. It is being developed by MeyGen Ltd, a joint venture between investment bank Morgan Stanley (45%), French-owned power generator International Power (45%) and tidal technology firm Atlantis Resources Corporation (10%).

The £51m project has been given £10m worth of grant funding from the UK government, £17.2m by the Scottish government’s renewable energy investment fund (REIF) and £3.3m from Highlands & Islands Enterprise (HIE). This is for the demonstration phase only.

When fully operational, the 86MW array could generate enough electricity to power the equivalent of 42,000 homes – around 40% of homes in the Highlands.

MeyGen won the rights to the scheme from the Crown Estate in 2010 with a 25-year operating lease.

HIE director of energy Calum Davidson said: “The MeyGen project is the first commercial scale tidal stream array to be developed and built out. HIE is delighted by today’s announcement as it gives a strong green light to the start of the construction phase of the project. It is a huge boost to the Highlands & Islands which is being rightly recognised as a global centre for marine renewables. We have world class wave and tidal conditions here, as well as expertise across the engineering and marine supply chain supported by a skilled and dedicated workforce.”

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