Atlantis Resources has returned two agreements for lease to the Crown Estate following a strategic internal review of the company’s portfolio of tidal energy projects.
The agreements were for the Anglesey Skerries site in Wales and the Kyle Rhea site in Scotland.
Atlantis said the decision to hand back the leases followed an internal project portfolio and site assessment review which has led to the decision to prioritise other sites that are currently under construction and closer to reaching financial close.
Atlantis chief executive Tim Cornelius said: “Due to the abundance of natural resource and a supportive government, Wales remains a jurisdiction of high interest to Atlantis and we will continue to actively seek out commercially and financially viable project development and investment opportunities.
“We welcome commercial approaches from any developer with commercial scale project locations in Wales.”
Survey work and data from both project sites will be made publicly available through the Crown Estate’s Marine Data Exchange.
Image: Tidal turbine (Atlantis)
Atlantis quits Skerries, Kyle Rhea
Tidal developer relinquishes lease agreements with Crown Estate
By EBS