Business
Update on Allocation of Contracts for Difference
Update on Allocation of Contracts for Difference.
About this update from Ampeak Energy Limited
[{"type":"text","content":"\n \nRNS Number : 5519N Atlantis Resources Limited 29 July 2014 \n \n\n29 July 2014\n \nATLANTIS RESOURCES LIMITED\n \n(\"Atlantis\" or the \"Group\")\n \nUK Department of Energy & Climate Change announcement on the allocation of Contracts for Difference\n \nLondon - Atlantis, a vertically integrated equipment supplier and project owner in the tidal power industry, notes the publication of the document titled \"Electricity Market Reform: Allocation of Contracts for Difference - The Government response on the use of technology groupings, minima and maxima\" on 24th July 2014 by the UK Department of Energy and Climate Change.\nThe document sets out the proposed budgetary arrangements for renewable energy projects that are eligible to apply for financial support from the UK Government through the Renewables Obligation and the Feed-in Tariff Contract for Difference, for the first \"Delivery Plan\" period of 2014/5 to 2017/8. \nThe document confirms that the UK Government will introduce a minimum level of support for 100MW of capacity of wave and tidal stream projects applying for support through these support mechanisms, during the first Delivery Plan period. \nAtlantis is the 100% owner of the MeyGen project, which is located in the Pentland Firth in Scotland and is the largest planned free stream tidal energy project in the world. The project will be eligible for financial support through the Renewables Obligation and the Feed-in Tariff Contract for Difference.\nAtlantis welcomes this announcement and the statement that \"These technologies have the potential to make a significant contribution to our decarbonisation targets and our energy security post-2020 but are in a particularly unique position.\" \nFurther, Atlantis also notes that \"the Government believes that wave and tidal stream technologies are the only technologies that warrant a minimum in this Delivery Plan period.\"\nFurther updates will be made as appropriate.\n-Ends-\nFor further information please contact:\n\n\n\n\nAtlantis Resources Limited \n\n\nvia FTI Consulting\n\n\n\n\nTim Cornelius, Chief Executive Officer\n\n\n\n\n\n\n\nDuncan Black, Chief Financial Officer\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nPeel Hunt LLP (Nominated Adviser and Broker)\n\n\n+44 (0) 20 7418 8900\n\n\n\n\nDaniel Harris / Andy Crossley \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n...