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SIMEC Atlantis Energy Ltd - Edinburgh-based energy company - Re-deploys 1.5 megawatt turbine at MeyGen site in north Scotland. Says this is a critical step at demonstrating tidal technology at commercial scale.
‘With the latest turbine now back in the water, and the AR1500 re-deployed in March continuing to exceed expectations, SAE is confident that the MeyGen site will continue to break records for tidal generation. The site has already produced around 75% of the global tidal stream generation to date,’ SIMEC Atlantis says.
Notes that three turbines are now fully operational, with a final turbine scheduled for March 2023. Site can deliver a 400 megawatt power station that is both green and predictable, it adds.
Current stock price: 2.06 pence, up 16% on Friday
12-month change: down 59%
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