Scottish tidal stream developer Atlantis Resources has confirmed it was unsuccessful in bidding its MeyGen Phase 1C array into the second allocation round of the UK Contracts for Difference (CfD) regime.
As reported by subscription-only newsletter reNEWS in February, Atlantis sought price support for the up to 76MW project in the Pentland Firth.
The company said it submitted “a very competitive bid into the auction process” but a projected two-thirds cost reduction on Phase 1A was not sufficient to allow the project to secure a CfD.
“I must acknowledge the difficulties of competing on a level playing field with established technologies like offshore wind, which has been operating at commercial scale in the UK for over a decade,” said chief executive Tim Cornelius.
MeyGen Phase 1B did not participate in the auction because it has secured European funding worth more than €37m for an up to 6MW project, he added.
Image: AR1500 tidal turbine at MeyGen 1A (Atlantis)
