Tidal power

Helping the UK tidal industry innovate and grow.

  • 4 investments
  • 2,900
  • £19.3M

Helping create power from the waves and sea

We are all aware of the acute importance of bringing innovative and commercial new sources of renewable energy onstream quickly. Tidal energy’s time has come. It is ideally suited to the UK’s unique island geography, which has half of Europe’s tidal stream potential (RenewableUK data).

Harnessing energy from the tides has been happening for centuries in traditional tidal mills reliant on large barrages. The technology for generating commercial scale renewable electricity is much more recent.

Tidal turbines operate like underwater windmills but are driven by the power of consistent, fast-moving marine currents. Tidal power avoids many of the issues of other forms of renewable generation: it is completely predictable; the turbines have no visual impact; they have a very low impact on marine life; and they can operate in harmony with recreational or commercial sailing vessels.

“This is the most exciting time in the history of tidal power. The ocean offers huge potential for generating clean, environmentally benign, highly predictable power across the world.”

Tim Cornelius, CEO, Atlantis Resources Ltd

The UK is a growing global centre for tidal energy expertise, and Abundance is proud to be backing some of the innovative pioneers working to deliver commercially successful tidal energy projects. Their work is proving that as costs continue to fall, tidal power can make a significant contribution to energy generation portfolios around the world.

Atlantis is a world leader in tidal energy, having developed the flagship tidal project, MeyGen, off the coast of Scotland: the world’s first multi-megawatt, multi-turbine tidal power project. Our customers have funded three different investments from Atlantis to help them progress not only Meygen, but other tidal opportunities in the UK and Europe.

Orbital Marine Power (Orkney) has developed an innovative design for the world’s most powerful floating tidal stream turbine, the O2. Simpler to install and maintain, keeping costs and downtime low, floating systems can be deployed over a wide range of tidal sites. In 2018, 2,400 of our customers invested to help Orbital build its most powerful commercial demonstrator model O2 turbine, designed for global rollout.

“Floating tidal can be the springboard for a new, sustainable industry — one that comes from an idea conceived in Orkney, engineered in Scotland and delivered across a UK supply chain, with the ability to change the world in a better way

Andrew Scott, CEO, Orbital Marine Power