Atlantis Resources Limited MeyGen Operation & Production Update (3692P)
31 August 2017 - 4:01PM
UK Regulatory
TIDMARL
RNS Number : 3692P
Atlantis Resources Limited
31 August 2017
31 August 2017
Atlantis Resources Limited
("Atlantis" or the "Company")
MeyGen Operation & Production Update
Atlantis, a global leader in the marine power generation sector,
provides an operational update for Phase 1A of the MeyGen project
in the Pentland Firth. As expected, the third Andritz Hydro
Hammerfest ("AHH") turbine was reinstalled during the August neap
tide this week. The offshore works were very successfully and
efficiently executed by the Atlantis offshore operations team.
As such, all three AHH turbines, which were recovered earlier
this year following an initial period of operations to enable AHH
to implement system enhancements, now have been successfully
reconnected to the grid.
Production since the 10 July 2017 Operational Update has been
strong, with total production since launch approaching 2 GWh, and
set a new world record for monthly production from a tidal stream
power station of over 700 MWh in August.
The Atlantis turbine experienced some minor delays in receiving
upgrade components and is now expected to be reinstalled during the
next neap tide which is in late September. This turbine will then
enter into its final contractual performance and autonomous
reliability tests after which it will be signed off for
commencement of long term operation.
Atlantis expects that MeyGen Phase 1A will be operating at full
6 MW capacity from the end of Q3.
David Taaffe, Director of Project Delivery at MeyGen, said:
"The production performance from the installed turbines on the
MeyGen project has been very good. August proved to be a world
record month, providing enough energy to power 2,000 Scottish homes
from just two turbines. With yet another successful installation
campaign expertly completed this week by the Atlantis operations
team, we expect to continue to break records throughout the rest of
the year generating both predictable power and revenue."
Enquiries:
Atlantis Resources via FTI Consulting
Tim Cornelius, Chief Executive
Officer
Andrew Dagley , Chief Financial
Officer
Peel Hunt LLP (Nominated
Adviser and Joint Broker) +44 (0)20 7418 8900
Adrian Trimmings
Jock Maxwell Macdonald
Macquarie Capital (Europe)
Limited (Joint Broker)
Raj Khatri
Nick Stamp +44 (0)20 3037 2000
FTI Consulting +44 (0)20 3727 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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