By Renewable Energy Focus staff

MCT says the tidal farm could be up to 8 MW when deployed in 2014.

The cost of the Kyle Rhea tidal scheme is estimated to £40million, which will be provided by a combination of private sector finance and potentially UK Government support via the Low Carbon Innovation Fund or another government funding stream that focuses on the development of marine energy in the UK.

MCT expects to submit a planning application to Marine Scotland, part of the Scottish Government, in early 2012 once the tidal power project’s baseline surveys and impact assessments have been completed.

Martin Wright, CEO of Marine Current Turbines, says: “Securing The Crown Estate’s approval is a vital part of the process to deliver Scotland’s first tidal farm and set the UK on the path towards having a significant marine energy industry within the next decade.

“Tidal energy can deliver to the UK new jobs, predictable low carbon generation and greater energy security. The UK and Scottish Governments recognise the opportunity that tidal and wave energy offers and we hope that they will give greater incentives over the next 12 months to the market in order to make it happen: specifically we believe that five ROCs, rather than the present three in Scotland for tidal, is crucial to attract the investment that is required.”