Atlantis is to form a joint venture with SBS to develop a 150MW tidal stream site in Indonesia.
Atlantis has a portfolio of tidal projects in the UK including MeyGen in Scotland. It said the proposed development will be supported by a 25-year purchase agreement with Indonesia’s state electricity company Perusahaan Listrik Negara. SBS said the joint venture was progressing towards an agreement about a bankable feed-in tariff. SBS has already completed a feasibility study for the project.
Atlantis chief executive Tim Cornelius said: “The Indonesian archipelago of over 17,000 islands represents an extremely promising tidal stream resource. We are looking forward to working with SBS on this exciting project that offers the potential to provide highly predictable tidal stream power generation to the people of Indonesia.
“This also represents an opportunity for us to demonstrate our industry leading tidal energy technology in a range of tidal conditions and export some of the intellectual property we have created through the development of the MeyGen project from Scotland to other parts of the world.”