A first estimate of the energy potential in the tidal streams on the Faroe Shelf is derived from a barotropic numerical model with 100 m resolution. A total of 13 sites are identified as potential candidates for the harvest of the tidal stream energy with a total available mean energy flux in transects through these locations exceeding 2 GW. Of this 214–886 MW is in areas with depths larger than 40 m and peak velocities above 2.5 ms−1, where the lower estimate is for the mean tide and the higher estimate is with 8 constituents included in the assessment. Lowering the criteria for the peak velocities expands the potential areas significantly. A relatively large diversity of tidal phasing between the sites is identified suggesting good opportunities to construct a network of production units with a low ebb/flood variability.