Sign up
Oil Capital

Atlantis Resources says MeyGen project has formally entered the operations phase

At a 6MW-rated capacity, MeyGen, located at an offshore site between Scotland’s northernmost coast and the island of Stroma, is the world's largest tidal stream array
The MyeGen tidal project, near John O'Groats
A wave of emotion ... "We are incredibly proud of this achievement," said CEO, Tim Cornelius

Atlantis Resources Limited (LON:ARL) said the MeyGen tidal stream power project has now formally entered the 25-year operations phase.

The end of the construction element of Phase 1A of the project follows on from an extended period of array operation since the turbines were installed in 2017.

READ: Atlantis Resources to transform itself into a diversified renewable energy company with significant power generation asset acquisition​

The array has generated roughly 6GWh (gigawatt hours) of energy to date and in March set a new world record for monthly production from a tidal stream array, generating 1,400MWh (megawatt hours).

Atlantis pointed out that it has an international portfolio of opportunities for further tidal array projects while the MeyGen project alone has 392MW of further development capacity, with consents and grid connection agreements in place to pave the way to exploit more of this potential.

"Seeing the MeyGen project move into the operations phase is another major milestone on the path to commercialising tidal stream energy,” said Tim Cornelius, the chief executive officer of Atlantis Resources.

“This achievement is a triumph of public policy and a demonstration of what can be achieved when government and the private sector roll their sleeves up and decide to create a whole new industry together," he declared.

John Robertson, the senior energy & infrastructure manager at Crown Estate Scotland, said the achievement for “a real success story for MeyGen, for the tidal sector and for Scotland”.


Register here to be notified of future Company articles
View full profile View Profile
View All

© oil Capital 2018

Oil Capital, a subsidiary of Proactive Investors, acts as the vanguard for listed oil companies to interact with institutional and highly capitalised investors.
Headquartered in London, Oil Capital is led by a team of Europe's leading analysts and journalists, publishing daily content, covering all key movements in the Technology market.