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Atlantis has been growing its portfolio of tidal power development projects in Scotland via acquisition and can now offer potential investors an interest in a unique portfolio of tidal power projects. Tim Cornelius, CEO of Atlantis, commented:“Britain is leading the way in the development of tidal power and Atlantis is at the forefront having consolidated much of the industry in Scotland and helped to underpin its very bright future. Through the engagement of Macquarie Capital, we are bringing on an experienced team of renewable energy infrastructure experts who will work with Atlantis to communicate investment opportunities across the Atlantis portfolio to the industrial and financial investor communities in the UK, Europe, Asia and the Americas.” Atlantis Resources Limited is a vertically integrated turbine supplier and project developer in the tidal power industry. The Atlantis group holds equity positions in a diverse portfolio of tidal stream development projects, which includes a stake of 85% in MeyGen Limited, the company developing the MeyGen project in Scotland.
Last month the European commission granted the transfer of €17 million from the Kyle Rhea project to Atlantis Resources' MeyGen tidal project. MCT was acquired by Atlantis from Siemens AG in an all share deal in July 2015. Following completion of the acquisition, Atlantis applied to the European Commission, with the assistance of the member state, Scotland, to have this funding transferred. Atlantis' portfolio of Scottish tidal power projects currently includes MeyGen (398MW), Brough Ness (100MW), Mull of Galloway (30MW) and Kyle Rhea (8MW), and the Company has ambitions to grow this portfolio in the near future.
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