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Statkraft invests in tidal power developer Atlantis Resources

Norwegian utility Statkraft has invested approximately NOK 45 million in tidal power developer Atlantis Resources.

Under the agreement, Statkraft will participate in projects initiated by Atlantis to develop tidal energy in the UK and Canada. Statkraft and Atlantis will also collaborate on licence applications for Scotland's Pentland Firth, with licences to develop up to 700 MW of marine energy due to be allocated during 2009.

Atlantis' technology

Atlantis Resources Corporation develops tidal current turbines, and in 2008 Atlantis completed trials of its Solon™ deep-water turbine, obtaining independent verification that “Solon is the world's most efficient turbine ever to be subjected to large-scale testing.”

The most recent version of the Nereus™ shallow-water turbine has been operational and grid-connected for over 9 months off Melbourne in Australia. Both types of turbine are in the course of being put into commercial operation.

“The tidal power sector in Europe is poised for immense growth over the next decade and with Atlantis we will be well placed to secure a pole position in this market,” says Nicolai Gedde, Vice President Marine Energy at Statkraft.

In December 2008, Statkraft and its Northern Ireland-based partners B9 Energy and Deepblue Renewables founded the consortium Thetis Energy Ltd to develop tidal power off the coast of Northern Ireland.

 

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