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Turning the tide?

All of us will have noted the high profile announcement in September 2013 by Fergus Ewing, Energy Minister, in relation to the approval of planning permission for a tidal energy project in the Pentland Firth.

 

Given the Pentland Firth’s vast potential for harnessing of energy and the massive investment which has been made to the area in recent years, the success of this project could lead to additional grants being given.

 

The successful company - Maygen Ltd - is based in Caithness and has worked alongside 3 other joint venturers in seeking
to secure this project since around 2008. The lease issued from the Crown Estate will be for a duration of 25 years.  The project will attract significant media attention, particularly in the build-up to next year’s referendum, and it must be hoped that it’s success will propel Scotland to the forefront of the tidal energy market. 

 

For more information on issues of Crown Estate leases or setting up of joint ventures, please contact Martin Sinclair or call 01224 632 464.

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