Atlantis acquires tidal projects from ScottishPower
Atlantist has completed the acquisition of Scottish tidal project assets from ScottishPower Renewables (UK) Limited (SPR) in exchange for a stake in Tidal Power Scotland Limited (TPSL).
Accordingly, as consideration for the acquisition, TPSL) has issued new ordinary shares to SPR resulting in a shareholding for SPR of 6% of the enlarged share capital of TPSL.
As part of the transaction, TPSL has acquired SPR’s entire tidal power portfolio, comprising the 10 MW Sound of Islay site in western Scotland and the 100 MW Ness of Duncansby site, immediately to the east of Atlantis’s flagship 398 MW MeyGen project in north-eastern Scotland. TPSL already owns 85% of the MeyGen project company, with the remainder held by Scottish Enterprise.
The project assets include agreements for lease with The Crown Estate for both sites, and the Sound of Islay site also has a grid connection offer and construction consents from the Scottish Ministers. The Sound of Islay project has been awarded €20.7 million of grant funding from the European Commission’s NER300 fund by way of capital and revenue support.
Country news
-
-
May 18, 2016
NTR acquires 18 MW wind farm in Northern Ireland
The Dublin based energy company NTR has recently revealed that it has acquired the 18 MW Altaveedan Wind Farm under construction by Larne based renewable energy projects developer Renewable Energy Systems (RES). Read more -
May 17, 2016
Covanta and Veolia partner to waste to energy facility in Bedfordshire, UK
Covanta has announced a partnership with Veolia to develop the Rookery South Energy Recovery Facility near Stewartby, Bedfordshire, UK. Read more -
May 16, 2016
Fred Olsen Renewables (FOR) buys 51% stake in Global Wind Power France
Fred.Olsen Renewables (FOR), a wholly owned subsidiary of Bonheur ASA and Ganger Rolf ASA and the responsible for the group’s renewable energy activities, has recently acquired a 51% stake from the Danish parent company Global Wind Power Europe. Read more -
May 16, 2016
Dudgeon offshore wind farm secures GBP1.3 billion project financing
The developers of one of the world‘s largest offshore wind farms have recently announced they have reached financial close in six months for the 402 MW Dudgeon Offshore Wind Farm through a GBP1.3 billion (US$1.87 billion) long-term financing, which will fund the capital requirements of the project. Read more -
May 11, 2016
Nexeon raises £30 million for next generation Li-ion Batteries
Nexeon has successfully completed a £30 million funding round. The company received funding from existing investors and a new investor, Woodford Investment Management. Read more
