Top news, Aug 28 – Sep 3, 2017

first_imgTidal Energy Today has compiled the top news from tidal and wave energy industry from August 28 until September 3, 2017.MeyGen claims world’s first as it welcomes final AHH turbineAtlantis Resources has reinstalled the third Andritz Hydro Hammerfest (AHH) tidal turbine for the MeyGen tidal energy project which is approaching a 2GWh milestone of tidal power generation. The MeyGen project also set a new world record for monthly production from a tidal stream power station with over 700MWh generated in August. The fourth turbine for this phase of the project, the AR1500, is expected to be added later in September.Minesto gets its wings (Gallery)Swedish tidal energy developer Minesto has taken delivery of the most distinguished part of its Deep Green ocean energy concept – the wing. It is made from composite material, with inner beams in carbon fiber and an outer shell in fiberglass, with the total weight of approximately 3 tons.Weptos wave device hits water off DenmarkLocal wave energy developer Weptos has deployed its wave energy device in the Little Belt strait, off the east coast of Denmark. The planned performance tests have been launched and are expected to be completed by the end of the year, Tommy Larsen, Chief Executive Officer of Weptos said.WaveRoller design ticks all the right boxesLloyd’s Register has approved the detailed design review of the WaveRoller wave energy device from the Finnish wave developer AW-Energy. The Design Appraisal Certificate guarantees that the WaveRoller design adheres to predetermined codes and standards regarding safety, functionality and reliability, AW-Energy informed.Sabella mobilizes Olympic Taurus for cable repair servicesFrench tidal energy developer Sabella engaged the services of Olympic Shipping’s multi-purpose vessel Olympic Taurus for the installation of new cable part related to the Ushant island tidal energy project. The operation started on Tuesday, August 29, 2017, and was completed two days later on August 31. The operation was conducted ahead of installation of Sabella’s D10 tidal turbine – set to be deployed later this year, or in 2018.Tidal Energy Todaylast_img read more

GVC Holdings prepares for €187 million tax battle

first_img Related Articles Share StumbleUpon FTSE online gambling group GVC Holdings has confirmed that it will move to appeal its recently sanctioned ‘tax audit assessment’ by the Greek Audit Centre for Large Enterprises.Updating the market, GVC reveals that it has been charged with a tax assessment of €187 million for its Greek subsidiary’s performance for the audit periods of 2010 and 2011.During the disputed periods, the Greek subsidiary was operated by Sportingbet Plc, prior to the online bookmaker’s acquisition by GVC Holdings in 2013.In its statement, GVC ‘strongly disputes’ the Audit Centre’s calculation, stating that the €187 million figure is ‘substantially higher by multiples of the total Greek revenues generated by the subsidiary’.Advised by Greek legal and tax professionals, GVC claims that it has strong grounds to dismiss the assessment, and will therefore file an appeal with the Greek courts.Protecting its existing Greek subsidiary operations, GVC has entered into a ‘payment scheme’ with the Tax Authority, where the business will make ‘held on account’ transactions of €7.8 million per month over the next 24 months.GVC governance states that ‘entering into such an arrangement is not an admission that the assessment is correct and the Group will seek to recover such payments’.Furthermore, as a prudent provision, GVC governance has sanctioned approximately €200 million attached to firm’s 2017 financial accounts to cover its dispute.“The Board strongly disputes the basis of the Assessment calculation, believing the assessed quantum to be widely exaggerated and is confident in the grounds of appeal”. GVC hires ‘comms pro’ Tessa Curtis to re-energise media profile  August 25, 2020 GVC absorbs retail shocks as business recalibrates for critical H2 trading August 13, 2020 Martin Lycka – Regulatory high temperatures cancel industry’s ‘silly season’ August 11, 2020 Submit Sharelast_img read more

AC Milan striker’s agent plays down Chelsea and Liverpool transfer links

first_imgChelsea and Liverpool target Carlos Bacca is happy at AC Milan, according to the striker’s agent.The Colombia international has been in fine form this season and has 15 goals in all competitions.The 29-year-old only moved to the San Siro last summer, but there is already talk he could be off at the end of the season.Chelsea and Liverpool have both been linked with moves for Bacca, while Carlo Ancelotti reportedly wants to sign him for Bayern Munich when he takes over in the summer.However, the striker’s agent, Sergio Barila, claims that his client is very happy in Milan right now.“It’s nice that so many clubs in Europe are following him,” Barila told MilanNews.“It’s normal when these teams are looking for a great striker for next season. Bacca is one of the best strikers in the world, but he has a contract with Milan.“He’s very happy with the Rossoneri, he’s concentrated on the Coppa Italia final and the last few games of the season.” 1 Carlos Bacca [left] in action for AC Milan last_img read more