Business
SAE secures support for more turbines at MeyGen
SAE secures support for more turbines at MeyGen.
About this update from Ampeak Energy Limited
[{"type":"text","content":"\n\n8 September 2023\n\n \nSIMEC Atlantis Energy Limited\n(\"SAE Renewables\", \"SAE\" or the \"Company\")\n \n \nSAE secures support to deliver another phase at the world leading MeyGen project\n \nSAE is delighted to announce that it has successfully secured 4 Contracts for Difference (CfD) in the latest allocation round, for the world leading MeyGen site. These CfD contracts, which guarantees £198 (£/MWh), for 15 years from 31st March 2028 commissioning date, will allow SAE to deliver a total of c.22MW of clean, home-sourced, predictable power at its MeyGen site in Scotland.\n \nSAE has been making good progress on the delivery of the 28MW secured in the AR4 round (July 2022) and the success in this round will help the project achieve greater economies of scale and address the significant cost increases faced by those successful in 2022.\n \nBy delivering these projects in parallel, SAE will be delivering a 50MW tidal stream array, in addition to the 6MW already operational at the MeyGen site. This is the equivalent of over 65,000 homes per annum being powered by the tide. To deliver these projects, SAE is in advance discussions with a consortium, involving global manufacturing and engineering firms, which will see the deployment of 3MW turbines. These turbines will be the most powerful tidal turbines ever deployed. SAE is working to ensure the project achieves the maximum benefit for the UK and Scotland, with the potential for a turbine manufacturing facility being established near the site.\n \nThis milestone has been achieved thanks to the huge support of the SAE shareholders, stakeholders, and project partners.\n \nThis is another important step for the project and the industry, but it is vital this progress is maintained. SAE looks forward to working with all stakeholders to ensure that the next auction round delivers greater scale and unlocks the full potential of both the MeyGen site and the wider industry.\n \n \nFor further information, please contact:\n \n\n\n\nSAE Renewables\nSean Parsons, Director of External Affair\n\n\n+44 (0)7739 832 446\n\n\n\n\n\n\n\n\n\n\n\n\nStrand Hanson Limited (Nominated and Financial Adviser)\nRichard Johnson\nRory Murphy\nDavid Asquith\n \n\n\n+44 (0)20 7409 3494\n\n\n\n\n \n\n\n \n\n\n\n\nZeus Capital Limited (Broke...