Atlantis Resources, a developer of marine renewables, has announced that it has signed a Memorandum of Understanding (MoU) with Ideol, a developer of offshore wind floating foundation solutions.
The announcement follows the company’s decision earlier this year to establish Atlantis Energy, a new internal division to expand its offerings into non-tidal stream project development, which has generated much interest from potential investors, developers and industrial partners, particularly in the floating offshore wind sector.
The collaboration will seek to initiate the development of a floating offshore wind project of up to 1.5 GW, with a pre-commercial phase of up to 100MW commissioned by 2021.
Under the MoU, Atlantis will lead the review, selection and consenting of UK sites and in attracting third party funding. Ideol will design the technical concepts and be the exclusive provider for the floating foundation systems.
Abundant offshore wind resources, governmental incentives and support frameworks combined with extensive oil and gas, maritime and fixed offshore wind experience will position the UK as one of the market leaders for floating wind projects. Atlantis and Ideol intend to deliver the pathfinder project that will catalyze a boom in future floating offshore wind development in the UK.
Potential development sites will be disclosed in future statements, however the Ideol foundation opens vast new development opportunities in resource rich locations right across the UK.
Tim Cornelius, CEO of Atlantis, commented:
“Ideol are a high quality, technically proficient, world leading technology and services company capable of delivering cost competitive floating offshore wind solutions to a market that is voracious in its appetite for large scale offshore wind development at an optimised cost of energy. This MoU is a significant step in our diversification strategy and leverages our existing skill set accumulated during the progression of our tidal portfolio. To now be seeking to develop a large floating offshore wind project alongside the UK’s largest tidal stream project is truly exciting. We want to leverage Ideol’s expertise in designing, engineering, building and installing floating offshore wind substructures to bring UK consumers affordable, sustainable and secure power.”