Atlantis Resources (AIM:ARL) – sell down will help fund future project equity requirements
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.
Contrary to what is implied by the declining share price, this pioneering group appears to be delivering above expectationsWhile 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.
The further sell down of other projects will help fund future equity requirements in projects currently under development.
Our commentary available here offers more detail