A TIDAL power firm has reached an agreement with the business empire of Sanjeev Gupta aimed at creating a “new force” in the global renewable energy market.
Atlantis Resources, based in Edinburgh, will acquire Uskmouth power station in South Wales from Simec, the energy arm of the GFG Alliance.
In return, Simec will receive a 49.99 per cent share of Atlantis, which will be renamed Simec Atlantis Energy and become part of the GFG Alliance.
A statement said: “Simec Atlantis Energy aims to build a highly diversified, global green power enterprise, driving forward the £200 million conversion to renewable energy of Uskmouth power station in South Wales, in addition to the development of the trailblazing Meygen tidal stream project in Scotland and the Wyre Estuary tidal barrage project in Lancashire.”
Gupta, GFG’s founder and executive chairman, said: “I am delighted to welcome Atlantis to the GFG Alliance with its highly skilled team and ambitious projects.”
Why are you making commenting on The National only available to subscribers?
We know there are thousands of National readers who want to debate, argue and go back and forth in the comments section of our stories. We’ve got the most informed readers in Scotland, asking each other the big questions about the future of our country.
Unfortunately, though, these important debates are being spoiled by a vocal minority of trolls who aren’t really interested in the issues, try to derail the conversations, register under fake names, and post vile abuse.
So that’s why we’ve decided to make the ability to comment only available to our paying subscribers. That way, all the trolls who post abuse on our website will have to pay if they want to join the debate – and risk a permanent ban from the account that they subscribe with.
The conversation will go back to what it should be about – people who care passionately about the issues, but disagree constructively on what we should do about them. Let’s get that debate started!
Callum Baird, Editor of The National
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here