SIMEC Atlantis Energy Ltd.
TypePublic Limited Company
LSE: SAE
ISINSG9999011118
IndustryRenewable energy
Headquarters
Key people
Duncan Black
(Chairman)
Graham Reid
(Chief Executive)
SubsidiariesMeyGen Holdings Limited
Islay Tidal Power Limited
Islay Holdings Limited
Tidal Power Scotland Limited
Atlantis Projects Pte Ltd
Green Highland Renewables
Simec Uskmouth Power Limited
Normandie Hydroliennes SAS (49%)
Websitewww.simecatlantis.com

SIMEC Atlantis Energy (SAE, formerly: Atlantis Resources) is a renewable energy company. It is incorporated in Singapore, but its operational headquarters are in Edinburgh, Scotland, United Kingdom.[1][2] Initially, it was a developer of the tidal power turbines and projects, but after becoming a part of GFG Alliance it has expanded its business also to the waste-to-energy[3] and hydropower.[4]

History

In February 2014, Atlantis became the world's first tidal energy company to float on the London Stock Exchange's AIM sub-market and commenced construction on MeyGen,[5] Europe's largest tidal power project in the Pentland Firth.[6] On 20 February 2017, the company announced that it had completed the phase 1a of the Meygen project. This phase included the design, manufacture and deployment of four 1.5 MW turbines.[7] The project received £1.5 million Scottish Government grant in 2020.[8]

A number of strategic investments and acquisitions occurred in late 2015 and throughout 2016.[9][10][11][12][13] SAE acquired the tidal turbine developer Marine Current Turbines from Siemens, including the SeaGen turbine in Strangford Lough, and a portfolio of six project sites.[14] SAE also acquired two other projects from ScottishPower Renewables, the 100 MW Ness of Duncansby site in the Pentland Firth to the east of the MeyGen project, and a 10 MW project in the Sound of Islay.[10]

In 2017, GFG Alliance acquired 49.99% stake in the company in return of the coal-fired Uskmouth power station, which will be converted to the waste-to-energy plant.[4] Consequently, Atlantis Resources was renamed SIMEC Atlantis Energy.[3] In 2019, it acquired the Scottish hydro developer Green Highland Renewables.[4] In early 2021 the planning was called-in by the Welsh Government for the development of Uskmouth power station, putting the project in doubt.

In 2020, it created a subsidiary Atlantis Operations Japan, which will build a tidal turbine between the southern Japanese islands of Hisaka and Naru islands for Kyuden Mirai Energy.[15] The 500 kW AR500 turbine was built at the Nigg Energy Park, and shipped to Japan for installation. The turbine was reported to have produced 10 MWh of energy in the first days of operation in early February 2021.[16] The turbine was decommissioned in December 2023, and will be upgraded in Japan for redeployment in 2025.[17]

In October 2022, there was a management buyout of the Advanced Tidal Engineering and Services (ATES) with the associated IP and staff, forming a new company called Proteus Marine. SAE remains a minority shareholder in the new company, with a 21% stake. Proteus Marine will continue to supply turbines to SAE, for MeyGen and other projects.[18][19][20][21]

Operations

Atlantis has commercial and project development teams based in Edinburgh, an operations base located at Nigg Energy Park in Invergordon and the turbine and engineering services division is located in Bristol. Through its subsidiaries, the company develops or operates the 6 MW Meygen tidal turbine array in Pentland Firth, Scotland,[22] a 160 MW Wyre tidal barrage on the River Wyre,[23] and the 220 MW waste-to-energy Uskmouth power project.[3]

In the cooperation with the China Shipbuilding Industry Corporation and the China Three Gorges Corporation, it helped to design the 500-kilowatt tidal-stream turbine which was installed between Putuoshan and Huludao islands in the Zhoushan archipelago, China.[24] In Japan, it supplies the 500-kilowatt tidal-stream turbine which will be launched between Hisaka and Naru.[15] In France, SIMEC Atlantis Energy holds 49% stake in Normandie Hydroliennes, the marine energy development company which develops 12 MW tidal power project in Raz Blanchard.[25]

See Also

References

  1. ↑ "Annual Report 2018" (PDF). SIMEC Atlantis Energy. p. 44. Retrieved 3 June 2020.
  2. ↑ Hill, Joshua S. (29 April 2020). "Simec Atlantis completes "mammoth" tidal turbine build in Wuhan". RenewEconomy. Retrieved 24 May 2020.
  3. 1 2 3 Harrington, John (5 November 2018). "SIMEC Atlantis Energy surges following Uskmouth power project update". Proactive Investors. Retrieved 24 May 2020.
  4. 1 2 3 "Atlantis snaps up Green Highland Renewables". Renews. 31 October 2019. Retrieved 24 May 2020.
  5. ↑ "Tidal energy project to be constructed in the Pentland Firth". BBC News. 22 August 2014. Retrieved 13 December 2016.
  6. ↑ "Atlantis Resources acquires Europe's largest tidal energy project". Renewable Energy Focus. 19 November 2013. Retrieved 13 December 2016.
  7. ↑ Cameron, Greig (21 February 2017). "Atlantis shows turn of speed installing new tidal turbine". The Times. Retrieved 24 May 2020.
  8. ↑ McPhee, David (25 March 2020). "Simec Atlantis Energy wins £1.5m Scot Gov grant for Meygen project". Energy Voice. Retrieved 20 July 2020.
  9. ↑ Scott, Kevin (27 October 2016). "Atlantis Resources lays foundations for MeyGen project". The Herald. Retrieved 13 December 2016.
  10. 1 2 "Atlantis Resources boosts tidal power portfolio". BBC News. 17 December 2015. Retrieved 13 December 2016.
  11. ↑ "Proposed Acquisition of Tidal Projects". Atlantis Resources. 17 December 2015. Archived from the original on 20 December 2016. Retrieved 9 December 2016 – via London Stock Exchange.
  12. ↑ "Partnership with Infrastructure Investor". Atlantis Resources. 4 April 2016. Archived from the original on 20 December 2016. Retrieved 9 December 2016 – via London Stock Exchange.
  13. ↑ "Investment by DEME Concessions NV". Atlantis Resources. 11 April 2016. Archived from the original on 20 December 2016. Retrieved 9 December 2016 – via London Stock Exchange.
  14. ↑ OffshoreWIND (29 April 2015). "Atlantis Acquires MCT". Offshore Energy. Retrieved 14 January 2024.
  15. 1 2 McPhee, David (3 February 2020). "Simec Atlantis looks to Japanese expansion with new Nagasaki office". Energy Voice. Retrieved 20 July 2020.
  16. ↑ Frangoul, Anmar (15 February 2021). "A tidal turbine built in Scotland is now producing power in Japan". CNBC. Retrieved 14 January 2024.
  17. ↑ "Tidal Energy Turbine Comes Ashore in Japan - Industrial News". 3 January 2024. Retrieved 14 January 2024.
  18. ↑ Garanovic, Amir (21 October 2022). "SIMEC Atlantis management buyout creates Proteus Marine Renewables tidal outfit". Offshore Energy. Retrieved 14 January 2024.
  19. ↑ Shumkov, Ivan (21 October 2022). "SIMEC Atlantis to sell majority stake in tidal engineering arm to management". Renewables Now. Retrieved 14 January 2024.
  20. ↑ "proteusmr.com – Marine renewable services". Retrieved 14 January 2024.
  21. ↑ "Simec Atlantis sells 79pc of its tidal engineering business". Sharecast. Retrieved 14 January 2024.
  22. ↑ Coyne, Brendan (13 April 2018). "Atlantis 6 MW tidal turbine array enters commercial operations". The Energyst. Retrieved 3 June 2020.
  23. ↑ Coyne, Brendan (21 November 2017). "Atlantis plans 160 MW Wyre tidal barrage". The Energyst. Retrieved 3 June 2020.
  24. ↑ Calder, Gordon (7 May 2020). "Caithness plays its part in helping China develop tidal energy". John O'Groat Journal. Retrieved 3 June 2020.
  25. ↑ "SIMEC Atlantis Gets Hold of 12 MW Tidal Power Project Lease in France". Offshore Engineer. 22 June 2020. Retrieved 20 July 2020.
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