RCS - SIMEC AtlantisEnergy - SAE working with biggest names on MeyGen phase 2

SIMEC Atlantis EnergyAnnouncement

05/11/2024 08:30

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RNS Number : 9766K  SIMEC Atlantis Energy Limited  05 November 2024

5 November 2024

 

SIMEC Atlantis Energy Limited

("SAE Renewables", "SAE" or the "Company")

 

 

SAE working with biggest names in sector towards delivery of the next phase of
the MeyGen project

 

Further to the announcement by Proteus Marine Renewables (PMR) that it has
signed an MoU with SKF Marine and GE Vernova's Power Conversion business (the
"Alliance"), setting out a framework for the supply of tidal turbine
generation systems (TTGS) to developers of tidal arrays for commercial,
multi-megawatt tidal stream projects, SAE is pleased to announce that it is
working with the Alliance, which comprises the biggest names in the tidal
sector, towards bringing about the next phase of SAE's MeyGen project.

 

MeyGen is the largest tidal stream facility in the world and the next phase
will see the project increase its operational capacity from 6MW to 65MW.
MeyGen continually accounts for over 70% of the global tidal stream total
output. SAE is working with the Alliance towards delivery of the project
utilising the world's most powerful tidal stream turbine.

 

A major factor in SAE working with the Alliance is their combined commitment
to invest and grow their team and invest in assembly and manufacturing in
Scotland. The next phase will see the delivery of a turbine facility to
manufacture the world leading 3MW turbine in Scotland, which would deliver
hundreds of jobs and demonstrate that tidal is able to deliver real investment
when it is backed.

 

SAE will work with Proteus, GE Vernova and SKF Marine, alongside project
partners, to ensure the delivery of this vital project.

 

 

- Ends -

 

 

 

For further information, please contact:

 

 SAE Renewables                                           +44 (0)7739 832 446

 Sean Parsons, Director of External Affairs

 Strand Hanson Limited (Nominated and Financial Adviser)  +44 (0)20 7409 3494

 Richard Johnson

 Rory Murphy

 David Asquith

 Zeus Capital Limited (Broker)                            +44 (0)20 3829 5000

 Louisa Waddell

 Simon Johnson

 

Notes to Editors

SAE Renewables is a global developer, owner and operator of sustainable energy
projects. SAE owns the world's flagship tidal stream project, MeyGen, and the
Uskmouth Power Station site, that is being repurposed into a sustainable
energy park that will become one of the UK's largest battery energy storage
sites. https://www.saerenewables.com/ (https://www.saerenewables.com/)

 

 

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