StockMarketWire.com - Tidal energy group Simec Atlantis Energy said it had formed a joint venture with Development Agency for Normandy to develop a large-scale project in Raz Blanchard.

The joint venture company, called Normandie Hydrolienne, would establish an operational presence in Normandy and Atlantis would hold a majority stake.

It would plan to harness up to 2 gigawatts of power from the Alderney Race -- an eight-mile strait that runs between Alderney and La Hague, France -- as well as more than 1GW of resource from adjacent concessions under the control of the States of Alderney.

'Combined, Normandie Hydrolienne has the potential to provide more power than the Hinkley Point C Nuclear Power Station in Somerset, England and at a lower cost,' Simec Atlantis said.

Chief executive Tim Cornelius said a techno-economic feasibility study plans for the delivery of an initial 1GW of operational capacity by 2025, which could be quickly expanded to 2GW by 2027.

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