News Column

Atlantis Resources Working With "All Parties" On MeyGen Financing

July 3, 2014

Steve McGrath

LONDON (Alliance News) - Tidal power company Atlantis Resources Ltd Thursday said it was continuing to work closely with all relevant financing and contracting parties in relation to reaching financial close on the first stage of the MeyGen project in Scotland, as it responded to a press comment that the UK government could participate.

The MeyGen project is located in the Pentland Firth in Scotland and is the largest planned free stream tidal energy project in the world, according to owner Atlantis. The first power from the project is expected in 2016 and it is estimated that 42,000 Scottish homes will be powered by the energy produced each year.

Atlantis said it expects financial close on the firs phase of the project shortly.

Atlantis Resources shares were down 6.3% at 60 pence Thursday morning.

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Source: Alliance News

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