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SIMEC Atlantis registers MeyGen for CfDs, mulls private wire PPAs

The AR1500 tidal energy turbine. Source: Lockheed Martin

July 10 (Renewables Now) - SIMEC Atlantis Energy Ltd (LON:SAE) today reported a few milestones passed by its flagship 398-MW MeyGen tidal power project and noted that the scheme has been successfully registered for this year’s contract for difference (CfD) programme.

The company said in a statement that its management is currently assessing bidding strategies for the upcoming CfD round and that it is considering private wire power purchase agreements (PPAs) with local industrial loads to facilitate the build out of the tidal stream array.

To date, MeyGen has exported 17.5 GWh of electricity to the national grid, including 7 GWh in 2019 alone. This year’s output equals the average annual electricity consumption of over 2,200 typical UK households and was recorded during what Atlantis says is the longest period of uninterrupted generation from a multi-megawatt tidal turbine array ever.

Phase 1A of the MeyGen project was completed in the spring of 2018 and consists of a 6-MW tidal stream array made up of four 1.5-MW turbines. This includes three Andritz Hammerfest Hydro (AHH) turbines and one of Atlantis’ own AR1500 machine. CEO Tim Cornelius commented that future phases will use Atlantis’ new AR2000 turbine that is being developed in cooperation with General Electric Co (NYSE:GE).

So far this calendar year, Phase 1A has generated some GBP 1.85 million (USD 2.3m/EUR 2m) in revenue.

The planned second phase of MeyGen is known as Project Stroma and, according to a previous announcement by GE, envisages the addition of a further 6 MW.

(GBP 1.0 = USD 1.247/EUR 1.111)

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