Gore Street Energy Storage Share Discussion Threads

[kev0856153] 08/5/2024 15:12

Surprise surprise as this streak of pish drops below 60p again.

[886370] 08/5/2024 13:32

I think it will be producing revenue when it has been commissioned.As the fact sheet says after commissioning it will take revenue capacity to 421.4mw.
So as I see things it hasn’t been commissioned so no revenue yet from Ferrymuir

[fordtin] 08/5/2024 13:12

Ferrymuir was reported as operational in the March 2024 factsheet;

“OPERATIONAL CAPACITY

421.4* MW

*Includes 50 MW newly energised capacity at Ferrymuir.”





And also in the February 2024 factsheet;


“OPERATIONAL CAPACITY

421.4* MW

*Includes 50 MW newly energised capacity at Ferrymuir.”



However, in the February 2024 factsheet, they contradicted themselves;

"The 50 MW Ferrymuir project in Scotland, GB, has been energised after storm conditions delayed completion of work by the grid operator. Commissioning works are being carried out by long-term strategic partner Nidec to progress the asset towards commercial operations. This will take the Company’s revenue-generating capacity to 421.4 MW."

[waterloo01] 08/5/2024 11:53

Hasn't it been handed over to EDF post energization, so how they utilize will be their call. I assume there is some minimum sum paid, regardless of use, but for the availability

[yump] 08/5/2024 11:50

What on earth does energising mean ? You can't do a start up test without any energy input. Perhaps they use a cranking handle !

So the board ask "are we in full production yet?"
"We've energised the equipment"
"wtf does that mean ? - can we bill the customer yet ?"

"When are we going to set off on holiday Dad ?"
"I've energised the car"
"Yes but we're not moving - you haven't put it in gear"

[fordtin] 08/5/2024 10:32

re post#1472 "I think there is a distinction between energized and commissioning the plant."

I seriously hope all commissioning tests were performed and met or exceeded design parameters, prior to energising. Otherwise that new bespoke insurance policy would almost certainly be invalid!


"Commissioning is a start-up test of the electrical equipment that is performed prior to the initial energization of equipment. "

[george stobart] 08/5/2024 09:22

Blue horseshoe loves GSF. RNS incoming tomorrow 7am

[cc2014] 08/5/2024 09:08

At the end of March Ferrymuir was energised but not revenue producing.

The April factsheet is not yet out yet, so it's anyone's guess.

[886370] 08/5/2024 08:49

Thanks
I think there is a distinction between energized and commissioning the plant.
There just seems to be silence from GSF on Ferrymuir.
Nothing in March factsheet.
I have emailed GSF a couple of time asking for an update but get the usual reply the will update the market as and when.

[cc2014] 08/5/2024 08:35

Ferrymuir was energised on 12th Feb

There is usually a gap before it becomes revenue producing but I thought it would be so by now.

Why do you think there is an issue?

[886370] 08/5/2024 08:18

Morning
there seems to be an issue commissioning Ferrymuir and I'm wondering having read this article if GSF may be considering selling some of the GB assets and using the money to invest in countries that produce higher revenues.
Any thoughts on the delay to commission Ferrymuir?

hxxps://tamarindo.global/articles/gore-street-capital-ceo-gb-bess-revenue-decline-was-no-surprise/?utm_content=290949246&utm_medium=social&utm_source=linkedin&hss_channel=lcp-64252241

[marksp2011] 06/5/2024 14:25

The nav rises as they move towards income generation and takes account of WIP that any buyer would need to purchase

[stemis] 02/5/2024 12:57

If it was they wouldn't, but it generally isn't..

[fordtin] 02/5/2024 12:49

If the cost of purchasing the components and assembling them into a functional product is the same as the resale value of the assembled and functioning product, why do companies ever bother manufacturing anything?

[scrwal] 02/5/2024 12:44

Fordtin
The physical assets will have a value but there is no impact on the NAV.
At the start of any project when you purchase the components you will either pay cash,finance it or a mixture. The initial impact on NAV is zero as the increase in asset cost is offset by the reduction in cash/increase in borrowing.

[fordtin] 02/5/2024 11:47

"Because the NAV is simply a discounted future cashflow of the asset (based on forecasts produced by the company) and energising of the asset doesn't change that"


Are you saying the actual physical components of an asset have no value at any time before and during assembly, or even after energisation?

[stemis] 02/5/2024 11:37

One of the things I don’t get about this type of business is, why the NAV doesn’t change when a development project is energised.

Because the NAV is simply a discounted future cashflow of the asset (based on forecasts produced by the company) and energising of the asset doesn't change that

[cocopah] 02/5/2024 11:30

#Miandaj … just go onto Alex’s feed on LinkedIn and look at the posts he has shared over the last couple of days.

You will find two of interest.👍🏻😎

[mirandaj] 02/5/2024 10:26

Cocopah,

I can't find what you mentioned in 1459? but this part of a post was interesting:

"Dr Dirk Höring, Member of the Executive Board, HDI Global SE, said:

We are delighted to be working with ACCURE, alongside Gore Street Capital and PIB, to provide an innovative, risk-managed solution that incorporates ACCURE’s battery safety intelligence for BESS risks.

“By combining the technology expertise of HDI TH!NX with our deep underwriting and risk engineering capabilities, we create solutions to support clients through times of transformation.̶1;

Andrew Sinclair, Head of Renewable Energy Practise at PIB Insurance Brokers, added:

We are thrilled to deliver this bespoke policy to Gore Street Capital, which recognises the benefits of combining improved risk management, performance, safety, revenue and cost for its energy storage portfolio to ultimately deliver greater value for investors.

ACCURE’s predictive analytics software uses AI, field data and modelling to detect irregular battery cell behavior, diagnose battery health and recommend corrective action for any problems identified. The platform gives energy storage providers more control and lead time to address critical issues, ensuring their battery systems run safely and at peak performance."

[fordtin] 02/5/2024 08:33

One of the things I don’t get about this type of business is, why the NAV doesn’t change when a development project is energised.

If a fully operational asset is valued the same as a pile of unassembled components sitting in a field, why waste several years having vast amounts of capital tied up in development projects, instead of purchasing fully operational plants which are already generating revenue?

[george stobbart] 01/5/2024 21:27

Blue horseshoe loves GSF. RNS incoming

[cocopah] 01/5/2024 21:09

There was a solar storage conference yesterday in London and the CEO of GSF (Dr Alex O’Cinneide) has shared some posts from the conference on LinkedIn. Well worth a read especially as one post focuses on Ercot in Texas and also the California market. Not sure that I understood all of the detail but it was insightful. Hope you all get to have a look-see.

[daveoz1] 01/5/2024 17:29

Waterloo 1441: Blue horseshoe loves GSF. I googled it (you'd think I had something better to do with my time, wouldn't you..). 'The movie Wall Street uses the phrase, "Blue Horseshoe loves Anacot Steel," as a code for insider trading.' You're welcome, everyone.

[fordtin] 01/5/2024 14:13

There's bound to be one by the Umpteenth of NoWonder Plenty PlentyFour