MeyGen Operational Update – all going to plan with a highly supportive environment

The global leader in the tidal power sector has delivered an encouraging operational update on progress with its flagship tidal power project, MeyGen, the world’s largest planned tidal stream energy project. MeyGen continues to progress well and remains on target to deliver power to the grid in 2016. Contrary to what is implied by the declining share price, this pioneering group appears to be delivering above expectations. Furthermore, while other parts of the UK renewable energy spectrum have been subject to subsidy cuts, tidal stream continues to enjoy 100MW of ring-fenced Contracts for Difference (CfD) allocation, providing for a bright development future in the UK, with MeyGen extremely well positioned to make use of that allocation.