SAE secures support to deliver more capacity at MeyGen Pentland project
Energy firm SAE says it has secured support to deliver more capacity at the MeyGen project.
SAE has secured a Contract for Difference (CfD) in the latest Allocation Round, for the world leading MeyGen site.
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The firm says the CfD contracts - which guarantees £172 per MWh for 15 years from March 31 2029 (the target commissioning date) will allow it to increase the size of the MeyGen 2 development by c.9MW, enabling more clean, home-sourced, predictable energy to be generated at its MeyGen site in Scotland.
As previously announced, on September 8, 2023, SAE has already secured contracts for 50MW in previous allocation rounds and says this further success will bring the total project under development to 59MW.
This next phase is in addition to the 6MW already operational at the site. MeyGen has so far produced 66GWh of energy, more than all other tidal stream sites in the world combined.
To deliver the 59MW project, SAE is in advanced discussions with global manufacturing and engineering firms.
Graham Reid, chief executive of SAE Renewables, said: “The scale and opportunity that MeyGen represents for the industry the supply chain, our stakeholders and the wider United Kingdom, is significant and we will work with all involved to ensure its success.”