Atlantis Resources' tidal power project gains Ofgem accreditation

Tidal power company Atlantis Resources’ MeyGen project in Scotland has gained accreditation by an industry watchdog.

Phase 1A of the MeyGen project in the Pentland Firth was granted full accreditation by Ofgem under the renewables obligations order, for the six megawatts tidal stream station at the Ness of Quoys in Caithness, which started operations in November 2016.

The MeyGen project will now be issued with five renewables obligations certificates for every megawatt per hour of renewable electricity generated by the station.

The AIM-listed company also said that the AR1500 tidal stream turbine, the fourth turbine that has been deployed offshore and connected to the grid at the Ness of Quoys, was recently deployed at MeyGen, exported power to the grid and has operated at full power.

Chief executive Tim Cornelius said: "The granting of full accreditation for phase 1A of the MeyGen project represents a truly historic milestone for the MeyGen project, Atlantis and everyone associated with the tidal power sector in the United Kingdom.

“The project has gone from strength to strength over the past 24 months and even greater strides will now be made as we prepare for construction of the next phase of the MeyGen project to start later this year."

Shares in Atlantis Resources were up 0.18% to 55.10p at 0931 GMT.