READ: SIMEC Atlantis Energy acquires hydro-generation portfolio from major shareholder The company said once completed the GHR acquisition would provide "an immediate and material contribution" to its earnings and cash flow as well as further growth opportunities for its hydroelectric platform. "This capital raise helps us towards completion of the acquisition of this unique portfolio of Scottish hydro assets," said Tim Cornelius, chief executive of SIMEC Atlantis. "Completion of this acquisition together with our portfolio of hydro, tidal power and waste-to-energy projects across Scotland and Wales, would make us an important player in the United Kingdom's endeavours to decarbonise responsibly whilst at the same time creating domestic employment opportunities and attracting inward investment."