The FloTEC project will demonstrate the potential for floating tidal stream turbines to provide low-cost, high-value energy to the European grid mix. The FloTEC project has 5 core objectives:1. Demonstrate a full-scale prototype floating tidal energy generation system for optimised energy extraction in locally varying tidal resources;2. Reduce the Levelised Cost of Energy of floating tidal energy from current estimated €250/MWh to €200/MWh, through both CAPEX and OPEX cost reductions in Scotrenewables Tidal Technology;3. Develop potential of tidal energy generation towards flexible, baseload generation, through the integration of energy storage; 4. Demonstrate the potential for centralised MV power conversion to provide a generic, optimised low-cost solution for tidal arrays;5. Progress tidal energy towards maturity and standard project financing by reducing cost and risk, improving reliability, and developing an advanced financing plan for first arrays.This will be realised through the construction of a M2-SR2000 2MW turbine - which will incorporate the following innovations:50% greater energy capture through enlarged rotors with a lower rated speed;Automated steel fabrication;Centralised MV power conversion Integrated Energy StorageMooring load dampersComposite Blade Manufacturing The SR2000-M2 will be deployed alongside the existing SR2000-M1 at EMEC to form a 4MW floating tidal array, serving as a demonstration platform for commercially viable tidal stream energy as a baseload supply.