Edinburgh-based tidal power company Atlantis Resources announce an agreement to partner Natural Energy Wire (NEW) to develop the Wyre tidal project to be built between Fleetwood and Knott’s End on the Lancashire coast.

The Wyre project comprises a 160MW tidal power plant capable of producing up to 400GWh of carbon free power each year, coupled with flood protection.

The Wyre project has been spearheaded by Bob Long, managing director of NEW, and the design has been a collaboration of energy sector companies including Mott Macdonald, BAM Nuttall, Arcadis and Andritz Hydro.

Long said: “I am delighted by the involvement of Atlantis in this important project.

“They have a proven track record of tidal development and an excellent team which can now move this project forward with real pace.

“I am passionate about the Wyre project and am committed to seeing it delivered for the greater economic good of the region.

“This is not just a low cost renewable energy project.

“This is a project that will provide flood protection to an area which will be increasingly vulnerable to rising sea levels.

“It is a project that offers huge opportunity for the regeneration of Fleetwood and the surrounding area and a chance to enhance the recovery of a previously seriously contaminated estuary.”

Atlantis CEO Tim Cornelius said: “The Wyre project is an opportunity to develop an extremely cost effective tidal range project which represents excellent value for the consumer.

“The geography of the Wyre means that only a relatively small impoundment is required for the power output produced.

“This makes Wyre a very cost effective way to test the concepts of tidal range power; its location also offers the chance to offer multiple benefits to the local community and surrounding area through economic stimulus and habitat preservation …

“This project is absolutely in line with Charles Hendry’s recommendations to build momentum in this new industry and with the Secretary of State’s ambition for affordable, reliable energy supply with a strong domestic supply chain focus.

“It also fits well with the government’s stated Northern Powerhouse strategy as well as contributing to the development and regeneration of our towns and cities.”