SIMEC Atlantis Energy Limited Contract signed with Kyuden Mirai Energy
October 31 2019 - 3:01AM
RNS Non-Regulatory
TIDMSAE
SIMEC Atlantis Energy Limited
31 October 2019
31 October 2019
SIMEC Atlantis Energy Limited
("SAE" or the "Company")
SIMEC Atlantis Energy signs equipment and services supply
contract with Kyuden Mirai Energy
SIMEC Atlantis Energy Limited ("Atlantis"), is delighted to
announced that it has signed a contract to supply tidal generation
equipment and offshore construction services to Japan's Kyuden
Mirai Energy ("KME") for a demonstration project in Japan. The
project, located in the straits of Naru Island within the southern
Japanese Goto island chain, has a total budget of 1,800mYen. The
project will seek to capitalise on Japan's wealth of tidal
resources which are some of the best in the world. The prefecture
of Nagasaki has over 900 islands alone located in tidal rich
waters.
The Atlantis Turbine and Engineering Services Division ("ATES")
will supply and install an AR-Series turbine and associated balance
of plant. The system will be deployed at site in the Nagasaki
Prefecture initially in a demonstration capacity, operating at a
reduced generation output of around 500kW, as a data collection and
validation device for the client and Japanese regulatory bodies.
Atlantis expects to deliver and install the tidal generator by late
Q3 2020, with completion of the demonstration in Q1 the following
year. The possibility to upgrade the project to full output post
successful completion remains, subject to approval.
In an industry first, Atlantis will be exporting Scottish tidal
generation equipment to be used for the duration of the project
under a rental agreement.
Atlantis will be responsible for the supply installation and
operation of the turbine system, inclusive of foundation and cable
supply, and has brought on Orkney based offshore marine energy
construction specialist Green Marine to bolster offshore
construction planning and installation support for the cable and
foundation.
The project has been sanctioned by the Japanese regulator and
authorities.
Tim Cornelius, CEO of SIMEC Atlantis Energy, commented:
"SIMEC Atlantis has been at the forefront of marine energy for
the past decade, building a strong portfolio of projects across
Europe and around the world. Japan's decarbonisation ambitions and
world-leading tidal resource combine to create huge potential for
Atlantis' tidal generation systems in the future.
This is our largest awarded export contract to date and our
partnership with Kyuden Mirai Energy is representative of the
leadership position SIMEC Atlantis has taken in exporting Scottish
know how and expertise into new international markets."
Drew Blaxland, Director of ATES Division, commented:
"We are delighted to have won this contract to supply such a
prestigious customer as KME and to be afforded the opportunity to
work with them on this very important marine energy project in
Japan. The Japanese market holds huge potential for us in terms of
the future sale of turbine generation systems to deliver
predictable power to hundreds of inhabited islands throughout the
prefecture of Nagasaki. It is a privilege to be at the forefront of
exporting Scottish equipment, services and know how. We are very
committed to delivering this project on budget and on time for our
client."
Enquiries:
SIMEC Atlantis Energy Limited via FTI Consulting
Tim Cornelius, Chief Executive Officer
Andrew Dagley, Chief Financial Officer
Cantor Fitzgerald Europe (Nominated
Adviser and Joint Broker) +44 (0)20 7894 7000
Rick Thompson
David Porter
J.P. Morgan Cazenove (Joint Broker)
Michael Wentworth Stanley +44 (0) 207 742 4000
FTI Consulting +44 (0)20 3727 1000
Ben Brewerton
James Styles
Molly Stewart
Notes to Editors
Simec Atlantis Energy
SIMEC Atlantis Energy is the global developer, owner and
operator of sustainable energy projects with a diverse portfolio of
more than 1,000 megawatts in various stages of development. This
includes a 77% stake in the world's largest tidal stream power
project, MeyGen, and a 100% stake in the 220MW Uskmouth Power
Station conversion project.
https://simecatlantis.com/
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END
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