The AR1500 tidal energy turbine. Source: Lockheed Martin
Atlantis Resources (LON:ARL), the firm behind the 398-MW MeyGen tidal energy project in Scotland, says it could deliver 1 GW of tidal power generation capacity in France by 2025.
The company on Monday said it has submitted a strategic plan to the French government describing the 1-GW project at Le Raz Blanchard. It adds that 2 GW are "immediately available to be harnessed in the Raz Blanchard" and that can happen by 2027.
Atlantis' plan would allow for a significant reduction in the levelized cost of energy (LCOE) for tidal energy, going below the cost of offshore wind farms currently under construction in France or in the US, when the final phase of the proposed 1-GW project is commissioned, the company points out.
Studies to determine the best sites in French waters have been launched, at the request of the government, ahead of commercial tenders. Conclusions from Maritime Prefectures are expected in June.
Atlantis said it is actively pursuing an opportunity to develop a reference site off Normandy. It explains that the implementation of its plans would require the development a strong local supply chain for turbine production and offshore construction activities.
“Our proposal, if implemented, could quickly create a new industry in France attracting investment in local companies to establish a supply chain capable of delivering more than 1,000, 1.9MW tidal turbines along with their associated foundations and the onshore infrastructure,” said Tim Cornelius, chief executive of Atlantis.
Installing 2 GW of capacity would attract investment of around EUR 3.3 billion (USD 4bn), the firm adds.