22nd Jun 2020 10:08
(Alliance News) - SIMEC Atlantis Energy Ltd on Monday said it has obtained prefecture approval for the transfer of the lease to develop a 12 megawatt tidal power project in Raz Blanchard to Normandie Hydroliennes from Engie SA.
Shares in SIMEC were up 11% at 11.67 pence in London in morning trading.
Prefecture de la Manche in Normandy, France has approved the transfer. Normandie Hydroliennes is a marine energy development company set up among Atlantis, the Development Agency for Normandy, the regional agency for economic development in Normandy, the regional investment fund Normandie Participations and local industrial group EFINOR."
Normandie Hydroliennes has been working for the past 12 months with the French Environmental & Energy Management Agency as well as relevant government ministries in order to get the approvals needed to transfer the first stage of the possible "multi-hundred-megawatt project marine energy project" to be built in Raz Blanchard.
Raz Blanchard in lower Normandy is the strongest tidal current in France and accounts for 50% of national tidal power potential. As 49% owner of the joint venture, SIMEC Atlantis it the main shareholder and plans to expand the collaboration to create a larger tidal project in the territorial waters around Normandy and Alderney.
The long-term goals for Normandie Hydroliennes is to harness as much as 2 gigawatts of power from the Alderney Race - an eight-mile strait running between Alderney, part of the Channel Islands, and La Hague in France. It also plans to harness over a gigawatt of resource from nearby concessions under control of the states of Alderney.
By Anna Farley; [email protected]
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