MCT Seeks Lease to Deploy Tidal Technology (Scotland)

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http://www.renewableenergyworld.com/rea/news/story?id=54175

Tidal energy company, Marine Current Turbines (MTC) confirmed that it intends to apply for a lease from the Crown Estate to deploy its world-beating tidal technology in Scotland's Pentland Firth. Subject to financing and securing the necessary approvals, MTC proposes to install potentially up to 50 megawatts (MW) of capacity by 2015, using its commercial-scale SeaGen technology, and up to 300 MW or more by 2020 if the local grid can handle it.

To support its development ambitions in the Pentland Firth and in other parts of the UK and Ireland, and globally, MTC has appointed Cavendish Corporate Finance to secure new investment in the company. MCT’s existing shareholders include ESB International, Guernsey Electricity, Triodos Bank and EDF Energy.

“We welcome the Crown Estate’s competition for the Pentland Firth. Given our experience with our SeaGen tidal project in Northern Ireland’s Strangford Lough, we believe that we have a clear and substantial technical advantage as well as unique, practical experience of installing and running a commercial scale tidal power system," said Martin Wright, managing director of Marine Current Turbines.

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