DEME Concessions acquires an interest in Scottish development company for tidal energy
ZWIJNDRECHT - EDINBURGH | DEME Concessions, a subsidiary of the Belgian dredging, environmental and marine engineering group DEME, is acquiring a minority interest in the Scottish development company Tidal Power Scotland Limited (TPSL). Together with Scottish Enterprise, TPSL controls, among others, the planned MeyGen project, the world's first tidal power station connected to the electricity grid. By participating in TPSL, DEME is building on the experience gained with complex maritime construction projects and supporting a new technology, which after years of testing is ready to evolve from a prototype to an operational tidal turbine.
Tidal Power Scotland Limited is established by the pioneering Atlantis, which has been researching the development of tidal energy for over a decade. The technology is inspired by the developments in offshore wind energy and is developing rapidly with the planned realisation of MeyGen, the world's first commercial tidal energy project in North Scotland. As market leader in offshore wind energy DEME is investigating how it can support TPSL.
Alain Bernard, CEO DEME: "Great Britain and Scotland are global leaders in the development of tidal energy. Around the British islands there are large current speeds, forming ideal locations for generating energy. With the projects MeyGen (86 MW) and Sound of Islay (10MW), TPSL has built up a great portfolio. Just as with offshore wind energy projects, DEME wishes to be a pioneer in this promising and sustainable technology. Besides the development, construction and maintenance of tidal energy power stations, DEME - through DEME Concessions - also wishes to actively participate in new projects."
Tim Cornelius, CEO Atlantis: "We are excited to welcome DEME Concessions as a strategic investor in the TPSL portfolio. As a respected global leader in offshore renewable energy installations, DEME brings along a wealth of expertise crucial for the further expansion of our Scottish projects."
Besides the participation in TPSL, DEME is also involved in DEME Blue Energy (70% DEME Concessions - 30% ParticipatieMaatschappij Vlaanderen) and in cooperation with Nuhma it is also a partner (50% - 50%) in BluePower, another tidal energy development company. The West Islay Tidal Energy Park (30 MW - Scotland) and Fair Head (100 MW - North Ireland) projects are currently being developed in cooperation with the Irish company DP Marine Energy (DPME).
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