Press Release
15 Jul 2010
Paul Lester, previously the Chief Executive of VT Group plc before it was acquired by Babcock International Group plc this month, has been appointed Chairman of UK tidal energy company, Marine Current Turbines Ltd. He succeeds Tony Davies who has been non-executive chairman of Marine Current Turbines for the past two years.
Bristol’s Marine Current Turbines (MCT) designed and deployed the SeaGen tidal energy system which is the largest grid-connected marine renewable energy system in the world and the only tidal current energy system that is in commercial operation. The 1.2MW tidal current turbine, which was deployed in April 2008, is located in Northern Ireland’s Strangford Lough.
Mr Lester is joining MCT following the recent investments made by Siemens Energy and the Carbon Trust and as the company moves forward with development projects in UK and Canadian waters. The company has secured a 99MW development site in waters off the Orkney Islands as part of The Crown Estate Pentland Firth process, is working with RWE npower renewables on a tidal farm off Anglesey and working with a Canadian partner to deploy its SeaGen technology in Nova Scotia’s Bay of Fundy.
Paul Lester said: “I’m delighted to be joining Marine Current Turbines at this time. The company is one of the leaders in marine energy and has a pipeline of projects for its SeaGen technology to be deployed. I will be focusing my energies to ensure that MCT achieves its exciting growth.”
He added: “The value of the company rests with its award-winning and patented SeaGen technology but also the company’s expertise in identifying and bringing forward tidal sites for development. The company however recognizes that multi-million capital investment, from an international utility or energy engineering firm, is necessary if these large-scale tidal energy projects are to be delivered over the next decade.”
Martin Wright, Managing Director of Marine Current Turbines said: “Paul Lester’s business and engineering experience in the UK and overseas is a fantastic asset for our company to draw upon. With Paul as our new Chairman and with the support of Siemens, Carbon Trust Investments and our other shareholders, MCT is in an enviable position to capitalize on the significant opportunities that exist in tidal energy, at home and abroad.”
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Images of the SeaGen tidal system are available upon request from Taylor Keogh Communications: 020 3170 8465 / paul@taylorkeogh.com
Notes to Editors:
1. Paul Lester was appointed Chief Executive of VT Group, the support services company, in July 2002 having been a non-executive Board member since 1998. Previously, Paul was a Group Managing Director of Balfour Beatty plc. A graduate mechanical engineer, he has held a number of board or senior management positions in engineering and support services companies in both the UK and the US. He is currently a non-executive director of Chloride Group Plc and Invensys Plc. Paul is a former President of the Society of Maritime Industries and a former President of the Engineering Employers’ Federation.
2. Marine Current Turbines Ltd (www.marineturbines.com) is based in Bristol, England. The company was established in 2000 and its principal corporate shareholders include BankInvest, Carbon Trust Investments, EDF Energy, ESB International, Guernsey Electricity, High Tide and Siemens Energy.
3. In September 2009, MCT was ranked the world’s top tidal energy company in The Guardian/Clean Tech Global 100 Survey and in June 2009 won Renewable Energy Developer of the Year in the UK Renewable Energy Association Annual Awards.
4. MCT’s 1.2MW SeaGen was deployed in Northern Ireland’s Strangford Lough in April 2008; it has the capacity to generate electricity for the equivalent of about 1500 homes and has the equivalent in energy output as a 2.5MW onshore wind turbine. SeaGen works in principle much like an “underwater windmill” with the rotors driven by the power of the tidal currents rather than the wind.
5. SeaGen is accredited by OFGEM as a UK power station and so is a recipient of Renewable Obligation Certificates (ROCs).
6. Since February 2008, MCT has partnered RWE npower renewables on plans to develop a 10MW tidal farm in waters off Anglesey, north Wales and is working with Minas Bay Pulp & Paper to deploy a single SeaGen system in Canada’s Bay of Fundy.
7. In March 2010, MCT secured approval for a lease from The Crown Estate to deploy its SeaGen tidal current technology off Brough Ness, on the southern most tip of the Orkney Islands (South Ronaldsay) and north east of John O’Groats. The company plans to have its first phase of SeaGen tidal turbines deployed there during 2017 with the whole scheme operational by 2020.
For further information:
Marine Current Turbines (www.marineturbines.com)
Paul Taylor/James Court (Taylor Keogh Communications)
Tel: 020 3170 8465 / 07966 782611
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