Business
Wyre Tidal Project
Wyre Tidal Project.
About this update from Ampeak Energy Limited
[{"type":"text","content":"\n \nRNS Number : 0380X Atlantis Resources Limited 21 November 2017 \n\nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR'). Upon the publication of this announcement via a Regulatory Information Service (\"RIS\"), this inside information is now considered to be in the public domain.\n \n21 November 2017\nAtlantis Resources Limited\n(\"Atlantis\" or the \"Company\")\nWyre Tidal Project \n \nAtlantis, a global leader in the predictable tidal marine power generation sector, announces that it has signed heads of terms with the Duchy of Lancaster for an option for the long-term lease of the riverbed required to develop the Wyre estuary tidal barrage and flood protection project (the \"Project\"). \n \nFeasibility studies indicate that the Project's optimal installed capacity is 160 MW, with forecast production of almost 300 GWh of sustainable energy each year. This would be coupled with flood protection capabilities and other amenities. It is expected that the process of obtaining all necessary consents to begin development will take approximately three years. Atlantis will now work with the Duchy of Lancaster, the Wyre and Lancashire councils, local stakeholders, BEIS, the supply chain and investors to progress the Project. Atlantis will be the lead developer of this important infrastructure project. Tenders are expected to be issued early next year and the Company also has commenced discussions with potential development stage investors and will update the market on the outcome of these discussions in due course.\nAtlantis believes that the Wyre estuary is ideally suited to be a low cost barrage project and the pathfinder for a series of similar barrage projects being planned across the UK. In particular, the Mersey tidal power project, which seeks to leverage Liverpool's existing waterways, docks and infrastructure to prioritise green energy, is well advanced. Along with similar projects being planned in Cardiff and Solway, the Mersey tidal power project will aim to benefit from the government's devolution agenda which empowers the new combined authority mayors, or 'metro mayors', to access the £900 million, 30-year investment fund created to promote proje...