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SIMEC Atlantis Energy says two Meygen project turbines removed for inspection and maintenance

SIMEC Atlantic said if the diagnosis of a generator fault is correct, repairs are expected to be completed within two months, with both generators under warranty

Tidal power
The group said the remaining AHH turbine and Atlantis' own AR1500 turbine continue to generate electricity

SIMEC Atlantis Energy Ltd (LON:SAE) said that the operators of its flagship tidal power project MeyGen in the Pentland Forth plans to retrieve two of the Andritz Hammerfest Hydro (AHH) turbines during July for inspection and maintenance.

In a statement, the recently expanded group said this follows the diagnosis of a generator fault by onboard monitoring systems, and will be taken onshore and if the diagnosis is correct repairs are expected to be completed within two months. It added that both of the generators are covered under warranty.

READ: Cantor Fitzgerald thinks SIMEC Atlantis Energy shares have potential to go above 300p, a near ten-fold increase

It said the remaining AHH turbine and Atlantis' own AR1500 turbine continue to generate electricity.

SMEC Atlantis holds equity positions in a diverse portfolio of tidal stream development projects, which includes a 77% stake in MeyGen Limited, the company developing the world's largest tidal stream project.

MeyGen has 392 megawatts (MW) of further development capacity under its seabed lease and has a 6MW rated capacity.

The project, which formally completed its construction and commissioning phase in March 2018, has generated over 8GWh of energy to the grid to date

In late afternoon trading, SIMEC Atlantis were down 1.5% at 32.00 pence on Wednesday.


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Price: 10.84 GBX

Market: AIM
Market Cap: £46.51 m

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