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UK launches new tidal power contract auction

The UK Government has announced, this Tuesday, a new round of CfD (AR6) contract allocations. This initiative involves an injection of £10 million for tidal power projects only.

CfDs (Contracts for Difference) are the government’s main tool for financing renewable energy projects by guaranteeing a fixed price. In previous calls, four companies in the tidal energy sector linked to Morlais obtained a total of 28 MW. This made it possible to give certain guarantees to investors and to encourage others to bet on this type of energy. The result of this call will announce in September.

Menter Môn Morlais Ltd owns the Morlais infrastructure. It has a marine license and is therefore legally in charge of the project. Recently, we completed the infrastructure, and we will install the first devices in 2026.

Currently, Morlais holds the title of the largest licensed tidal energy infrastructure in Europe. Its mission is to incentivize investors and deploy its technology on a commercial scale. The European Regional Development Fund through the Welsh Government funded the first phase of the project. The Isle of Anglesey County Council, the NDA, and the North Wales Growth Deal also provide support to them.

At Magallanes, we have been developing technology that facilitates the transition to more sustainable energy models for 15 years. In Spain, we are pioneers in developing this type of platforms and, at a global level, one of the major references.

We have recently obtained the necessary permits to build the world’s first floating tidal energy farm there. In addition, we have been awarded a fixed-price, long-term contract for the generation of this type of renewable energy by 2026.