SME bags GBP 4.5m in funds for tidal deployment at EMEC
SME PLATO at Venture Quays. Source: Sustainable Marine Energy (SME). License: All rights reserved.
Sustainable Marine Energy Ltd (SME) has secured GBP 4.5 million (USD 6.6m/EUR 5.7m) in financing that enables it to begin deploying an array of its PLAT-O tidal energy systems at the European Marine Energy Centre (EMEC) in Orkney, Scotland.
In a statement on Tuesday, SME said it expects to connect to the grid its first system at EMEC over the coming months. At a later stage, it will install a larger 240-kW platform with Instream turbines (SIT 250) produced by Germany’s Schottel Hydro. The latter is seen to start manufacturing the machines this summer, also in Scotland.
SME previously announced plans to install a roughly 1-MW tidal power array for testing at one of the EMEC sites in Orkney. Over the past two years it tested a PLAT-O prototype in the Solent, off the Isle of Wight.
Both Schottel Hydro and Scottish Enterprise are now among SME’s investors, it noted.