25th Jul 2014 11:50
LONDON (Alliance News) - Atlantis Resources Ltd Friday said it has signed a tidal turbine supply agreement for Andritz Hydro hammerfest to supply three 1.5 megawatt turbines for the development of Atlantis' MeyGen project.
The tidal power company said the deal is for the Phase 1A plan on site and it has also signed a turbine supply agreement to supply one of its own 1.5 megawatt turbines to the project.
The MeyGen project is located in the Pentland Firth in Scotland and is the largest planned free-stream tidal energy project in the world, according to Atlantis. The first power from the project is expected in 2016, and it is estimated that 42,000 Scottish homes will be powered by the energy produced each year.
Atlantis Resources shares were trading down 1.8% to 55.00 pence on Friday.
By Tom McIvor; [email protected]; @TomMcIvor1
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