Response to BEIS statement on CfD

RNS Number : 7626O

Atlantis Resources Limited

09 November 2016

 

9 November 2016

Atlantis Resources Limited

("Atlantis" or the "Company")

Response to BEIS statement on CfD

Atlantis, a global leader in the tidal power sector, is pleased that the Government department for Business, Energy & Industrial Strategy ("BEIS") has this morning clarified its position on the inclusion of marine energy for participation in the forthcoming April CfD allocation round. Whilst the removal of the previously pledged ring-fenced allocation is disappointing, the decision announced today was not unexpected and the Company has a clear view of how to move its UK portfolio forward. The Company looks forward to participating in the 2017 CfD auction with a number of its upcoming projects, and in the interim it will continue discussions with UK and Scottish governments on continuing support for this growth and job creating sector. The Company and its stakeholders remain committed to ensuring that the UK maintains its world leading position in the development of tidal stream power. Phase 1A of the Company's MeyGen project in the Pentland Firth which is currently under construction, benefits from the ROC regime and is on track to deliver first power in 2016.

The BEIS press release can be found here: https://www.gov.uk/government/news/government-sets-out-plans-to-upgrade-uk-energy-infrastructure-and-increase-clean-energy-investment

Enquiries:

Atlantis Resources	via FTI Consulting
Tim Cornelius, Chief Executive Officer Simon Counsell, Chief Financial Officer
Peel Hunt LLP (Nominated Adviser and Broker)	[phone]
Adrian Trimmings Jock Maxwell Macdonald
FTI Consulting	[phone]
Ben Brewerton Alex Beagley James Styles

 

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