Atlantis Resources on track to develop MeyGen project by 2016

Atlantis Resources, a tidal current power company, said the development of its flagship MeyGen project is on track for first power next year.Contruction works continue at the onshore site, with three of the four drilled bores now completed.The MeyGen project is located in the Pentland Firth, the body of water that separates the north Scottish mainland from Stroma Island.Following completion, MeyGen expects to mobilise vessels to install the power export cables by the end of 2015.Also on Wednesday, ahead of its annual general meeting, Atlantis said it is close to completing the acquisition of Marine Current Turbines from Siemens previously announced in April.