Marine renewables developer Atlantis Resources has entered into an agreement with Natural Energy Wire (NEW) to construct a new 160MW Wyre tidal power project in the UK.

Once in operation, the Wyre tidal facility will be capable of generating up to 400GWh of full carbon-free electricity every year and provide flood protection.

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Atlantis' chief executive officer (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.”

"The Wyre project is an opportunity to develop an extremely cost-effective tidal range project."

The plant replicates actual tidal cycles and helps to ensure minimal environmental disruption. Under construction for several years, the project is in line with the UK Government’s former Minister for Energy Charles Hendry’s recent review on the potential for tidal lagoon energy around the shores of the UK.

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Creation of the project has been led by NEW's managing director Bob Long. He said: “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 a huge opportunity for the regeneration of Fleetwood and the surrounding area and a chance to enhance the recovery of a previously seriously contaminated estuary.”

The 160MW tidal power facility is located between Fleetwood and Knott’s End on the Lancashire coast in England, UK.