Investment boost for Pentland Firth tidal power project

Equitix, a fund manager which invests in infrastructure projects, is to work with tidal power specialist Atlantis on a series of projects in Scotland, including the MeyGen scheme, currently under construction in the Pentland Firth, the channel between Orkney and the Scottish mainland characterised by extremely powerful tidal flows between the Atlantic to the west and the North Sea to the east. The funds Equitix plans to devote to Atlantis projects is believed to total some £100million over the next two years.

Under the terms of the partnership, Equitix will acquire a quarter-share in all of Atlantis’s Scottish projects at their financial close. It will work with Atlantis to prepare the projects for construction capital. "This agreement with Equitix, a leading infrastructure investment specialist, is an important step for us in engaging a partner with both vital experience of large infrastructure projects and access to extensive capital, coupled with a desire to work with us to accelerate the further development of the UK’s tidal power industry,” said Tim Cornelius, chief executive of Atlantis . “We are very excited to be working with Equitix on a range of fronts.”