Siemens Stops Work on U.K. Tidal Array

GALWAY, IRELAND--September 2, 2014 --Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland) Work has ground to a halt at the proposed 10-megawatt (MW) Skerries tidal array project in Wales following the loss of a vital government grant in June.

German engineering major Siemens AG (NYSE:SI) (Munich, Germany) has stopped work at the project just months after a £10 million ($16.6 million) grant awarded by the government to the project under the Marine Energy Array Demonstrator (MEAD) scheme was withdrawn.