Global tidal power company Atlantis has received €20.3m in Horizon 2020 funding from the European Commission (EC) for the DEMOTIDE project.

The project will see the design, construction, and operation of a 6MW turbine array for MeyGen Phase 1B in the Inner Sound of the Pentland Firth in northern Scotland. It presents technical and commercial feasibility of drilled foundation systems, as well as larger rotor diameter turbines and suggests ways to reduce cost in the European tidal power sector.

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Atlantis' CEO Tim Cornelius said: “The DEMOTIDE project is the next significant step in delivering cost-effective, reliable tidal stream generation for Europe.

“MeyGen is the world’s most high-profile tidal stream project and we are delighted to be working with the European Commission and this world leading consortium of marine renewable energy experts to ensure that Europe remains at the forefront of tidal power knowledge creation.

"This project will help the tidal stream industry demonstrate reductions in the price per unit of electricity."

“This project will help the tidal stream industry demonstrate reductions in the price per unit of electricity by increasing the energy yield per pound of investment. DEMOTIDE will set tidal on a path to cost parity with offshore wind by 2020.”

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The MeyGen Phase 1B is also known as Project Stroma. Construction works are expected to begin this year, while first power is expected in 2018.

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Project Stroma will be built adjacent to the existing 6MW MeyGen Phase 1A project that delivered first power to the grid in November last year.

MeyGen Phases 1A and 1B together complete full scale build out at the site, which has an awarded seabed lease for almost 400MW of installed capacity.