my question to SAE10 Apr 2023 11:05
hello Sean, please give us some news about the last reinstallation of the 4th turbine.. in the Forums people are losing the hope. a small newsfeed would help many shareholders. I think this would give the share price new impetus. happy easter and a nice weekend. best regards from austria
answer from Sean:
Hello,
Thanks for your email. I have copied our latest communication on this below.
I hope this helps and a happy Easter to you as well.
Sean
MeyGen Phase 1
The MeyGen operating array continues to generate electricity consistently with turbine availabilities of more than 90%. The array is generating 1GWh of electricity per month from the three installed turbines and has become the first tidal stream array in the world to generate 50GWh of electricity, this is more than 50% of the total global generation from all other tidal stream devices. This is a significant milestone in delivering tidal stream power at scale.
The maintenance work and the installation of the wet mate system onto the fourth turbine continues, on schedule, and we expect the turbine to be deployed in H1 2023. The wet mate connection system more than halves the cost of future turbine recoveries and deployments and is a key strategic deliverable for the project. With the return to full power of the array, once the fourth turbine is deployed, the Phase 1 array is a fantastic demonstration of the predictability and capability of tidal technology, which supports our plans to deliver the Phase 2 project.
https://saerenewables.com/wp-content/uploads/2023/02/SAE-2023-Abundance-Bondholders-Update-FINAL.pdf
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