Atlantis Resources Limited MeyGen Update (5491Y)
06 March 2017 - 6:00PM
UK Regulatory
TIDMARL
RNS Number : 5491Y
Atlantis Resources Limited
06 March 2017
6 March 2017
Atlantis Resources Limited
("Atlantis" or the "Company")
MeyGen Update
Atlantis Resources, a global leader in the tidal power sector,
is delighted to announce that Phase 1A of the MeyGen project in the
Pentland Firth, Scotland has been granted full accreditation by
Ofgem under the Renewables Obligations (Scotland) Order.
The decision has been made in respect of the 6MW tidal stream
generating station at the Ness of Quoys in Caithness, which
commenced commercial operation in November 2016. The MeyGen project
will now be issued with five Renewables Obligations Certificates
(ROCs) for every MWh of renewable electricity generated by the
station.
The AR1500 tidal stream turbine has recently been deployed at
MeyGen and has already successfully exported power to the grid and
has operated at full power. The AR1500 is the fourth turbine that
has been deployed offshore and connected to the grid onshore at the
Ness of Quoys, where power from the project is converted and
combined to form a 6MW grid compliant tidal stream power station
which directly supplies energy to the local electricity
distribution network in Caithness.
Tim Cornelius, CEO, commented:
"The granting of full accreditation for Phase 1A of the MeyGen
project represents a truly historic milestone for the MeyGen
project, Atlantis and everyone associated with the tidal power
sector in the United Kingdom. The project has gone from strength to
strength over the past 24 months and even greater strides will now
be made as we prepare for construction of the next phase of the
MeyGen project to start later this year. This is a truly momentous
occasion for all involved."
Enquiries:
Atlantis Resources via FTI Consulting
Tim Cornelius, Chief Executive
Officer
Simon Counsell, Chief Financial
Officer
Peel Hunt LLP (Nominated +44 (0)20 7418
Adviser and Joint Broker) 8900
Adrian Trimmings
Jock Maxwell Macdonald
Macquarie Capital (Europe)
Limited (Joint Broker)
Raj Khatri +44 (0)20 3037
Nick Stamp 2000
+44 (0)20 3727
FTI Consulting 1000
Ben Brewerton
Alex Beagley
James Styles
This information is provided by RNS
The company news service from the London Stock Exchange
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