Atlantis Resources, the tidal-energy group behind the MeyGen project in the Pentland Firth, has set up a new division to “extend its skills base”.

Its Atlantis Energy subsidiary will look to develop sub-sea interconnectors, tidal-barrage and lagoon projects, floating offshore-wind opportunities and pumped-storage projects on behalf of infrastructure funds, investment banks and private developers (www.atlantisresourcesltd.com).

It will have a global remit, but it will initially focus on opportunities in the UK and Europe. The group said that the new operation will be based at its Edinburgh headquarters and is likely to be operational by the end of March.

Group CEO Tim Cornelius said: “We have developed an exceptional project origination and development team at Atlantis over the past 10 years.

“The lessons learned and the skills developed during the progression of MeyGen and our entire tidal portfolio have a direct application in power projects that involve water, especially salt water.

“Atlantis has made great strides over the last 12 months, and diversifying into aligned areas will allow us to grow our company in partnership with investors who want to access our unique energy development experience and expertise.”