SIMEC Atlantis lands close to €3 million for MeyGen turbines redeployment

SIMEC Atlantis Energy has secured a non-convertible loan of €2.95 million from Scottish Enterprise for the redeployment of the remaining two turbines at the MeyGen site offshore Scotland.

MeyGen tidal energy turbine (Courtesy of SIMEC Atlantis)
MeyGen tidal energy turbine (Courtesy of SIMEC Atlantis)
MeyGen tidal energy turbine (Courtesy of SIMEC Atlantis)

The remaining turbines are expected to be deployed within the next 12 months, according to Edinburgh-based tidal energy company.

This follows the successful redeployment of the AR1500 – a 1.5MW tidal turbine – to the MeyGen that took place earlier in March.

The first of these turbines is scheduled for redeployment in May 2022, while the final turbine is expected to be deployed in March 2023, complete with a retrofitted wet mate connection system, which – according to SIMEC Atlantis – more than halves the costs of future turbine recoveries and deployments.

Graham Reid, SIMEC Atlantis’ CEO, said: “I would like to thank Scottish Enterprise for their continued support of the business and the MeyGen project.

The successes and challenges we have faced on this project pave the way to establish a world leading industry in Scotland and bring huge economic and environmental benefits for Scotland and the UK.

Our focus now is in ensuring our turbines are returned to operation as quickly and safely as possible.”

Scottish Enterprise director of growth investments, Kerry Sharp, added: “Scotland is rightly known as a world leader in the marine sector and central to this is MeyGen. Scottish Enterprise has had a longstanding partnership with the project and we look forward to developing this further as we support the energy transition and deliver sustainable economic growth for all of Scotland’s communities.”

Demonstrating the viability of the tidal turbines is vital to the success of MeyGen, the largest planned tidal stream project in the world. 

When operational, the turbines have far exceeded expectations and this funding from Scottish Enterprise will support deployment and activity to ensure continuation of the project, SIMEC Atlantis said.

Follow Offshore Energy – Marine Energy