SIMEC Atlantis Energy ( “Atlantis” ) is a global sustainable energy company, aiming to become the leading independent sustainable power generator in the UK. We are a global developer of renewable and sustainable energy projects with more than 1,000 megawatts of power projects in various stages of development, including the world’s largest flagship free-stream tidal power project, MeyGen. In addition to project development, the Atlantis Turbine and Engineering Services division designs, supplies and maintains world leading tidal turbines and subsea connection equipment.
The Company is based in Edinburgh with offices in Bristol, Newport, London and Nigg Energy Park in Scotland. The company is listed on the AIM market of the London Stock Exchange (ticker SAE:LN) and currently employs over 100 experienced staff.
2014 – Atlantis listed on AIM
~100 – Employees working full time across the UK
250MW – Operational capacity targeted by 2021
1000MW – Projects in various stages of development
350m – Investment pipeline
Our core activities
As a leading developer of sustainable energy projects worldwide, SIMEC Atlantis Energy is involved in the design, construction, installation, testing, operation and maintenance of power projects across the globe. Our aim is to create value through greenfield development activities, coupled with sustainable, long-term revenue streams for our shareholders, whilst ensuring that all activities are underpinned by best practice in safety, operational excellence and expertise in our chosen markets.
Our heritage is in tidal power generation, where we established a reputation as being a world leader in tidal system design, project development, construction management, financing and operation. We are passionate about tidal power and we will continue to be at the forefront of project development and ownership as tidal races down the LCOE curve and becomes cheaper with every installed megawatt of capacity in operation.
Given our long experience in the sector, governments and local partners are reassured by our resources, international experience and commitment to our local communities. Our proven technology and successful project management skills, as demonstrated by our flagship project MeyGen, gives industry partners reassurance of our presence at each step of a project, from consent, to construction, to operation.
Read more about our tidal projects across the globe here: [link to tidal section]
In 2017, we acquired the Uskmouth Power Plant following a reverse takeover of SIMEC Uskmouth Power limited, part of the GFG Alliance. The former coal powered station will be converted to use a waste-derived energy pellet as fuel and will deliver up to 220MW of baseload power to the grid. In November 2018, Heads of Terms was signed with Equitix, a leading UK infrastructure fund manager, for the sale of a 25 per cent stake in the project. The agreement implies a valuation of our stake in the project at £130million.
The successful conversion of Uskmouth will provide the blueprint for other conversion projects across the world. We believe that it is a viable low-carbon energy solution for coal powered stations destined to be decommissioned. It will ensure these sites will continue to provide a valuable service, compliant with up-to-date emissions regulations and with materially lower levels of CO2 emissions. Local jobs will be secured and communities with a previous historic reliance on coal will be transformed to support a new sustainable future.
The acquisition is intended to be the first of many acquisitions involving the GFG Alliance. Through a relationship agreement, Atlantis is being provided with investment rights, by way of a right of first offer, to a pipeline of renewable power assets owned or subsequently acquired by the GFG Alliance. These currently comprise a number of operating and development assets in the UK and Australia with a total gross capacity of 680MW. In addition, where technically possible and economically feasible, we intend to sell our power internally to GFG Alliance owned facilities. Where this is not possible, we will sell the power into the grid via standard power purchase agreements or bespoke corporate power purchase agreements.
Please read more about the Uskmouth conversion project here
Turbine and Engineering Services
Our Turbine and Engineering Services division designs, supplies and maintains world-leading tidal turbines and subsea connection equipment. In all cases, we look to work with our clients to support them at each stage of the project, both onshore and offshore with the provision of offshore and onshore construction and project management services.
You can read more about the work undertaken by the team here