Simec Atlantis Energy increases production from UK tidal power facility

  • Jul 10, 2019
  • Stock Market Wire

Simec Atlantis Energy increases production from UK tidal power facility StockMarketWire.com - Simec Atlantis Energy said its MyGen tidal power array had exported 17.5 gigawatt hours of electricity to the UK national grid, eclipsing the previous record of around 11 gigawatt hours.

The company said in 2019, the array had exported over 7GWh of predictable renewable energy to the grid, equivalent to the average annual electricity consumption of over 2,200 typical UK homes.

Phase 1A of MeyGen operated with five ROCs and had generated £1.85m of revenue to date this calendar year.

Total system availability was approaching 90% for 2019 to date and during the second quarter 2019 was recorded at almost 98%.

Simec Atlantis Energy said MeyGen had been successfully registered for the 2019 CfD programme and that its management was assessing bidding strategies.

'Management is also exploring options to establish private wire power purchase agreements with local industrial loads to facilitate the build out of the array, which has a seabed lease for a total installed capacity of up to 398MW,' it added.

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