Belgian offshore construction outfit DEME Group has completed the purchase of a 2% stake in tidal developer Atlantis Resources’s Scottish subsidiary.
Under the terms of the agreement announced in April, DEME has paid £2m in cash for the shares in Tidal Power Scotland Limited.
DEME will receive certain rights in respect of further equity funding at financial close of the Sound of Islay project and Phase 1C of the MeyGen project.
DEME’s subsidiary Geosea will use its jack-up vessel Neptune to install all heavy turbine foundation structures and some of the turbines for MeyGen Phase 1A.
Neptune is expected to arrive at Nigg Energy Park in September to kick off equipment mobilisation.
Image: Neptune (DEME)
DEME completes Atlantis deal
Jack-up Neptune will install foundations for MeyGen Phase 1A project
By EBS