Caithness, Scotland: Driving investments in tidal energy
Tidal energy is driving investment in European technologies and projects. One such project is MeyGen - the first multi-megawatt tidal farm in the world.
The project’s developer, Atlantis Resources, has raised over €60m to finance its first development phase, which is now delivering power to the UK electricity grid.
When completed, the full MeyGen project 398MW will produce enough power for 175 000 homes. Such projects are a significant opportunity for commercial debt and equity providers to invest in Europe’s energy transition.
In 2016, Equitix, a €2bn fund management outfit, announced a partnership with Atlantis Resources, which would see them acquiring a 25% stake in each of Atlantis’ Scottish projects, representing an investment commitment in the hundreds of millions of euros.