SIMEC Atlantis Energy Limited French Tidal Power Agreement Signed
2018年11月21日 - 9:00PM
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TIDMSAE
SIMEC Atlantis Energy Limited
21 November 2018
21(st) November 2018
SIMEC Atlantis Energy Limited
("SAE" "Atlantis" or the "Company")
French tidal power one step closer to commercialisation as SIMEC
Atlantis spearheads Normandie Hydrolienne JV
Joint Venture Agreement with AD NORMANDIE DÉVELOPPEMENT and the
regional investment fund NORMANDIE PARTICIPATIONS to include the
development of a multi hundred-megawatt tidal stream project in Raz
Blanchard, Normandy
Further to last month's announcement, SIMEC Atlantis Energy, a
world leading developer of sustainable energy projects, is pleased
to confirm that it has now agreed terms to define its collaboration
with Development Agency for Normandy (AD Normandie Développement),
the regional agency for economic development in Normandy and
regional investment fund Normandie Participations for the purpose
of developing a phased large-scale tidal power project in the Raz
Blanchard, Normandy, as well as fostering the marine industry and
local supply chain in the region more generally.
The JV documents were signed by Tim Cornelius and Hervé Morin,
President of the Normandy region, in a ceremony which took place in
the French Embassy in London on the evening of 20(th) November
2018.
The new Joint Venture company, called "Normandie Hydrolienne"
will now commence site development, permitting and consenting works
to allow for the construction of a phased array of tidal energy
projects, in this area of high tidal resource, at scale.
Normandie Hydrolienne will endeavour to energise the first array
of tidal energy turbines in 2021 before rolling out larger projects
from 2022 which, when potentially combined with projects in
Alderney's waters could create a 2GW, fully predicable energy
source and the largest planned tidal project in Europe. This
pipeline approach will allow the company to work closely with
supply chain partners to facilitate rapid Cost of Energy reduction
and the fit out of turbine manufacturing facilities in either
Cherbourg or Le Havre.
Normandie Hydrolienne, will establish an operational presence in
Normandy and Atlantis will hold a majority stake. The new company
is excepted to commence recruitment immediately in Normandy and
seeks to work closely with the French Government, all relevant
French regulators, the European Commission and the European
Investment Bank to deliver Europe's largest tidal power
project.
Tim Cornelius, CEO of SIMEC Atlantis, commented:
"I am delighted with the rapid progress made by our respective
teams to bring this agreement to fruition. We look forward to
building on this momentum by establishing an operational presence
and manufacturing base in Normandy and delivering this exciting
project.
More widely, this JV cements our place within the global race to
bring tidal power to commercialisation. Just as we led the
development of our record-breaking MeyGen array in the Pentland
Firth, we hope to channel our experience and unlock the potential
of the French tidal energy industry.
Normandy has all of the attributes required to deliver large
scale tidal power projects - excellent natural resource in close
proximity to load, available grid capacity, a feed-in-tariff, an
established offshore energy supply chain and port facilities in
Cherbourg and Le Have and access to EU funding. We are honoured to
be invited to partner with the Region of Normandy and we look
forward to establishing France as a world leader in tidal power
generation."
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
Richard Salmond
David Porter
Macquarie Capital (Europe) Limited
(Joint Broker) +44 (0)20 3037 2000
Nick Stamp
FTI Consulting +44 (0)20 3727 1000
(Media Relations) simecatlantisenergy@fticonsulting.com
Ben Brewerton
Alex Beagley
James Styles
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END
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