Atlantis Resources has agreed to sell its stake in a Canadian joint venture for an undisclosed amount in cash. DP Energy, the tidal power developer’s partner, is taking on the 50 per cent it does not already own in the turbine testing facility based at the Fundy Ocean Research Centre for Energy in Nova Scotia. The Edinburgh-based Atlantis was founded in 2005 and operates Meygen, the world’s largest generating tidal scheme, off the north of Scotland. It was announced last month that GFG Alliance, the steel, mining and energy conglomerate owned by the Gupta family, planned to buy a 49.99 per cent stake in Atlantis.
Times 6th Jan 2018 read more »