Atlantis Resources Limited Official Unveiling of MeyGen Project
September 12 2016 - 2:01AM
RNS Non-Regulatory
TIDMARL
Atlantis Resources Limited
12 September 2016
EMBARGOED: 07:00hrs, Monday 12 September 2016
Atlantis Resources Limited
("Atlantis" or the "Company")
Official Unveiling of MeyGen Project
Atlantis, a global leader in the tidal power sector, is
delighted to announce that today it is hosting an event to
officially unveil the MeyGen Project, the world's largest free
stream tidal power project, at the Nigg Energy Park ("Nigg") in
Scotland. The event is expected to be attended by Nicola Sturgeon,
First Minister of Scotland, who will officially unveil the MeyGen
Project.
The four 1.5MW turbines to be installed on Phase 1A of the
project weigh almost 200 tonnes each and have rotor diameter of 18
meters. They will be positioned on top of their foundation
structures on the quayside at Nigg ready for deployment to the
MeyGen site in the Pentland Firth. After the unveiling ceremony,
the turbines and their foundations, each weighing more than 1,000
tonnes, will be transported to the project site in the Pentland
Firth by the Neptune, a DP2 jack-up vessel operated by Geosea, a
subsidiary of the DEME Group.
The unveiling follows the MeyGen project's successful connection
to the National Grid at the Ness of Quoys distribution network in
June 2016 following the installation of 33kV power export cables by
the network operator, Scottish Hydro Electric Power Distribution
plc ("SHEPD").
Atlantis remains on track to deliver first power to the grid
from MeyGen Phase 1A later this year, which will be a landmark
event for the global marine power industry. When completed, the
MeyGen project will consist of 269 turbines and generate enough
energy to power 175,000 UK homes.
No new material financial information will be disclosed at the
event.
Tim Cornelius, CEO of Atlantis Resources Limited commented:
"Today marks a historic milestone not just for Atlantis and our
project partners, but for the entire global tidal power industry.
It gives me enormous pride to have reached this juncture after 10
years of tireless work, preparation and planning by everyone
associated with this project. This is the day the tidal power
industry announced itself as the most exciting new asset class of
renewable, sustainable generation in the UK's future energy mix.
This is an industry that is creating jobs and is contributing to
making Britain great again and Scotland is the undisputed world
leader of this high growth sector. 2016 has proved to be an
incredible year for the Company and our shareholders and we look
forward to commissioning this phase of the project and then
focussing on achieving financial close of Phase 1B, as soon as
possible."
For further information, please contact FTI Consulting using the
details below.
Enquiries:
Atlantis Resources via FTI Consulting
Tim Cornelius, Chief Executive
Officer
Simon Counsell, Chief Financial
Officer
Peel Hunt LLP (Nominated Adviser +44 (0)20 7418
and Broker) 8900
Adrian Trimmings
Jock Maxwell Macdonald
+44 (0)20 3727
FTI Consulting 1000
Ben Brewerton
Karolina Grzyb
James Styles
This information is provided by RNS
The company news service from the London Stock Exchange
END
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