Business
Government gives the green light for blue energy
Government gives the green light for blue energy.
About this update from Ampeak Energy Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 6618T\n SIMEC Atlantis Energy Limited\n 26 November 2021\n \n \n \n \n Press Release: 26 November 2021\n \n \n Government gives the green light for a blue energy revolution\n \n \n \n \n \n Nova Innovation and Atlantis Energy welcome the UK Government's announcement of funding for tidal stream energy and look forward to delivering more turbines in the water at the world-leading MeyGen site\n \n \n \n \n \n Nova Innovation (Nova) and Atlantis Energy (Atlantis) have welcomed the Government's decision to establish a £20 million a year ring-fenced budget for tidal stream technology, available for 15 years under the Contracts for Difference (CfD) scheme, which could be awarded as early as April 2022.\n \n \n \n \n \n This £300 million investment signals the UK Government's confidence in the role tidal energy can play in delivering net zero carbon targets. It creates a clear route to market for UK tidal energy companies like Atlantis and Nova that will create thousands of jobs across our coastal communities. \n \n \n \n \n \n Simon Forrest, CEO of Nova Innovation, said:\n \n \n \n \n\"We are delighted that tidal stream energy has been recognised by the UK Government as a core part of the UK's green industrial revolution. The ring-fenced investment will deliver a route to market for tidal energy companies such as Nova Innovation and Atlantis Energy - turbocharging the delivery of tidal energy across the world.\"\n \n \n \n \n \n Graham Reid, CEO of Atlantis Energy added:\n \n \n \"We would like to thank all who have championed our industry and believed in the global role tidal stream energy can play in the fight against climate change. We look forward to continuing to work in collaboration to deliver our ambition of more turbines in the water.\"\n \n \n \n \n \n Nova and Atlantis teamed up earlier this year to develop the MeyGen tidal site in the north of Scotland. MeyGen is the largest consented tidal stream site in the world with a potential capacity of 400MW. It has all the necessary consents to deploy 80MW of tidal power immediately and is already home to the world's biggest tidal array and the world's most powerful tidal stream turbines. Following the announcement, Atlantis and Nova look forward to the deployment of many more turbines on the site, creating jobs, in...