Sea power scheme hails a ‘mile­stone’

● The Pent­land Firth project is the world’s largest ti­dal stream ar­ray

The Scotsman - - Business - By SCOTT REID

ded­i­ca­tion to de­liver the project from con­cept de­sign to com­mer­cial op­er­a­tion over the years has been truly ex­cep­tional.”

He added: “We are in­cred­i­bly proud of this achieve­ment and this pro­vides a solid plat­form for build­ing out the full ca­pac­ity at Mey­gen and many other sim­i­lar sites world­wide.”

John Robert­son, se­nior en­ergy and in­fra­struc­ture man­ager at Crown Es­tate Scot­land, the body that man­ages leas­ing of the seabed, said: “This is a real suc­cess story for Mey­gen, for the ti­dal sec­tor and for Scot­land.”

In De­cem­ber, At­lantis Re­sources took a ma­jor step to be­com­ing a global player by join­ing the busi­ness em­pire of bil­lion­aire in­dus­trial mag­nate Sanjeev Gupta.

In a re­verse takeover, the ti­dal power firm is ac­quir­ing Uskmouth power sta­tion in south Wales from Simec En­ergy, a sub­sidiary of Gupta’s GFG Al­liance.

In re­turn, Simec will re­ceive a 49.99 per cent hold­ing in At­lantis Re­sources, which will be re­named Simec At­lantis En­ergy.

At­lantis Re­sources is quoted on the Lon­don Stock Ex­change’s smaller Al­ter­na­tive In­vest­ment Mar­ket, and the deal also marked Gupta’s first con­nec­tion with the pub­licly listed sec­tor.

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