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Press Release - Statement on the announcement by Alderney Commission for Renewable Energy (ACRE) & Alderney Renewable Energy Ltd (ARE)

For immediate release: 17th September 2018

The States of Alderney welcomes the announcement by ACRE and ARE that they have agreed terms of a settlement.

This agreement provides clarity that statutory licence entered into in 2008 is no longer in place and the States of Alderney and ACRE can now consider how best to develop the tidal resources in Alderney's waters for the future.

The States of Alderney also welcomes the fact that all monies owed to ACRE under the commercial agreement will be paid in full under the terms of the settlement.

As the detailed terms of the settlement are a confidential matter between the two parties, no further comment will be made.

ENDS