SIMEC Atlantis Energy Limited announced that it has successfully secured a Contract for Difference (CfD) in the latest allocation round, for the world leading MeyGen site. The CfD, which guarantees £178.54 (£/MWh), for 15 years, will allow SAE to deliver 28MW of clean, home-sourced, predictable power at its MeyGen site in Scotland. The site is already the larges tidal project in the world and will establish it as the global home of tidal energy.

This milestone has been achieved the huge support of the SAE shareholders, stakeholders, and project partners. SAE will work to achieve financial close for this next phase of the project by 2024 with the operation starting in 2027.