Singapore-based Atlantis Resources Corporation has unveiled its plans for a huge tidal power generator off the far north coast of Scotland. Atlantis, which moved to Singapore from Australia five years ago, has invested $100 million of private investors’ money into researching the project. Its 1-megawatt underwater turbine, designed and tested primarily in Singapore, will be the world’s largest at 150 tonnes and 22.5 meters, costing S4.1 million (US$3 million). It will be connected to the local power grid, with the ability to supply renewable energy to 1,000 homes.
“This is when ocean power generation goes from being in the research space to the commercial space,” said the company. Though the 1,000 home capacity will not replace fossil fuel sources anytime soon, it will demonstrate tidal power’s enormous potential and state its case for effectiveness over other current renewable options such as solar and wind. Atlantis is serious about making money from the venture, with plans to extend further into ‘energy hungry’ markets around Asia and hopes to go public on an Asian market should everything work well.
“We are confident of developing tidal power as a credible new renewable asset class in Asia,” said Atlantis’ CEO Timothy Cornelius.
He also said moving to Singapore was vital to the company’s success, giving it access to a highly-skilled labor force, solid intellectual property laws and collaborations with institutions like Nanyang Technological University. While Singapore itself is not suitable for underwater turbines thanks to its large shipping volume, every continent has miles of coastline ripe for development. The company is now investigating possible locations for a new manufacturing facility to produce more turbines.
source & article: Straits Times (via WildSingaporeNews)