30th Mar 2015 08:25
LONDON (Alliance News) - Atlantis Resources Ltd on Monday said it has signed a construction contract with US defence and aerospace company Lockheed Martin Corp for the delivery of a new 1.5 megawatt AR1500 turbine for the MeyGen tidal stream energy project in Scotland.
The turbine is scheduled for delivery in 2016 and will be one of the largest capacity single rotor turbines ever built.
Under the deal, Lockheed will handle the manufacturing of the steel turbine housing, the assembly of all turbine modules and the systems integration and quality assurance of the overall turbine delivery programme, Atlantis said.
No financial details were revealed on the contract.
Atlantis also said contractors have now started the horizontal drilling operations at the MeyGen site in Caithness. The work will create the bores for the cables which will link the onshore site at Ness of Quoys with the four subsea turbines.
"This new multi-million pound contract with Lockheed Martin further develops the strong relationship that exists between the two companies who are at the forefront of tidal power generation," said Atlantis Chief Executive Tim Cornelius.
Shares in Atlantis were up 2.5% to 26.9 pence Monday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
ARL.L