Atlantis Resources Ltd’s Canadian subsidiary has been awarded a feed-in tariff for up to 4.5 MW of tidal generation to be deployed at FORCE in Nova Scotia, Canada, it is stated in Atlantis’ press release.
As announced earlier, Government of Canada has allocated four awards to help tidal energy development by granting a developmental feed-in tariff to four tidal energy developers.
The developmental feed-in tariff award of CAD 530 per MW/h provides revenue support for Atlantis to deploy and operate up to three AR-1500 turbines at the Fundy Ocean Research Center for Energy (FORCE).
Tim Cornelius , Atlantis CEO, said:
“This is another crucial milestone in our Canadian project plans, following our SDTC grant award and award of a lease at the FORCE facility earlier in the year.
“Having also reached financial close on the first phase of our MeyGen project in Scotland, we are building momentum on our projects around the world, realising our goal of bringing cost effective clean energy to market at commercial scale – on both sides of the Atlantic.”
Image: Atlantis Resources