The acquisition, which involves an undisclosed buy-up of equity from joint venture partners Morgan Stanley and GDF Suez, comes in the wake of the development being awarded offshore planning consents by the Scottish government.

“The size, location and tidal resource of MeyGen make it one of the most exciting marine energy projects under development anywhere in the world and Atlantis has been considering increasing the size of its shareholding for some time, subject to the award of consents,” says Atlantis chief executive Tim Cornelius.

“Now