Atlantis Resources Unveils World’s Largest Tidal Turbine

Aug. 13 (Bloomberg) -- Atlantis Resources Corp., the tidal power company whose investors include Morgan Stanley and the Norwegian utility Statkraft AS, unveiled the world’s largest tidal turbine in Scotland.

The AK1000 device’s 18-meter (60-foot) rotors have the capacity to generate 1 megawatt of electricity, enough to power at least 1,000 homes, the Singapore-based company said today in an e-mailed statement. The turbine will be installed at the European Marine Energy Centre in Scotland’s Orkney Islands later this year, it said.

“We are at the start of a new industrial boom, akin to the development of the North Sea oil and gas fields,” Atlantis Chief Executive Officer Timothy Cornelius said. “If we receive the same support from all levels of government that the oil and gas industry received to make the North Sea the success that it is, then the future is very bright for marine power.”

The tides around the U.K. may provide enough electricity for 1.4 million homes by 2020, the government said in March. The industry, whose investors include Siemens AG and Vattenfall AB, is still in the development phase. The largest source of tidal power in the U.K. is a 1.2-megawatt twin-turbine SeaGen device installed in 2008 in Strangford Lough, Northern Ireland, by Marine Current Turbines.

SeaGen’s 16-meter rotors can deliver about double the amount of electricity to the grid in a year as a similarly-rated wind turbine because the tides are predictable and the wind doesn’t blow all the time, according to the Bristol, England-based company’s website.

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