SIMEC Atlantis Energy Limited (LON:SAE) has signed an EU grant agreement which will provide the firm and its supply chain partner, Asturfeito SAU with €1mln in funding to support its turbine development programme.
The diversiﬁed sustainable energy generation company said the grant will facilitate the ambitious Levelised Cost of Energy targets Atlantis has set itself, with the 2-year development project due to commence in January 2019.
The grant agreement has been signed with the European Executive Agency for Small and Medium-sized Enterprises via the European Maritime and Fisheries Fund and its Sustainable Blue Economy.
On 30 October, Atlantis announced plans to enhance the existing 6 megawatt (MW) MeyGen project. In its statement today, the group said the grant will support the innovations required to take that project enhancement forward, with a specific focus on the turbine upgrades needed to utilise the subsea hub and shared export cable.
Drew Blaxland, Director of Turbine and Engineering Services of SIMEC Atlantis Energy, commented: "The AR1500 turbine installed at the MeyGen project in 2017 marked the first commercial scale turbine installed in a tidal array.
“Following this successful deployment and record breaking operation of the AR1500 turbine we now look to the future and where opportunities to reduce the LCOE exist.”