Top news, April 18 – 24, 2016

Tidal Energy Today has compiled the top news from tidal and wave energy industry from April 18 – 24, 2016.

Atlantis' AR1000 tidal turbine (Photo: Atlantis Resources)

Atlantis scores £6.5 million

Edinburgh-based tidal energy developer, Atlantis Resources, has raised approximately £6.5 million through conditional placing of shares. Namely, the raised funds will be used to assist in bringing MeyGen Phase 1B in 2016, and 1C in 2017 to financial close. The proceeds are also intended to be used in achieving financial close for the 10 MW Sound of Islay project on the west coast of Scotland.

(Photo: Perpetuus Tidal)

Tidal site off Isle of Wight gets MMO’s blessing

Marine Management Organisation (MMO) has granted consent for the offshore elements of the Perpetuus Tidal Energy Centre (PTEC) to be created off the Isle of Wight, UK. The 30 MW PTEC could begin with the construction in 2017, and potentially start generating electricity from late 2018.

Illustration/SeaGen S tidal device (Photo: Atlantis Resources)

Atlantis raises tides in Indonesia

Atlantis Resources has signed a memorandum of understanding with SBS to develop a 150 MW tidal stream site off Indonesia. The total cost of this commercial array has been estimated at $750 million, which includes project sites in Indonesia will be located in the Bali Strait and Lombok Strait, and the the first 12 MW phase of the tidal stream site is expected to be operational by 2018.

The signing of the MoA (Photo: DCNS)

DCNS seizes Malaysia’s OTEC chance

DCNS has signed a memorandum of agreement (MoA) with OTEC Centre of Universiti Teknologi Malaysia (UTM OTEC) for the development of ocean thermal energy conversion (OTEC) plant in Malaysia. DCNS and UTM OTEC will put together their complementary expertise to define the technical and commercial feasibility of OTEC project off Layang-Layang island.

Illustration (Photo: Carnegie Wave Energy)

Carnegie closes EMC transaction, starts Mauritius project

The completion of the agreement means that Carnegie and EMC have now begun working to deliver microgrid initiatives, the first of which is Carnegie’s Mauritius Wave and Microgrid Design Project. Carnegie’s CEO, Michael Ottaviano, has also been appointed to the EMC Board, after the approval of the agreement by EMC’s shareholders.

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