Sea power scheme hails a ‘milestone’
● The Pentland Firth project is the world’s largest tidal stream array
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.