Jlen Environmental Assets Share Discussion Threads

[gateside] 25/3/2020 16:08

The next FTSE review is a couple of months away and lots I'm sure will happen, but as it stands now JLEN would be promoted to the FTSE250

[gateside] 17/3/2020 11:29

Not sure why this has been hit worse than other renewables.I can see why the whole sector has been hit, as with very cheap oil, it makes oil more attractive than renewables. The dividend for JLEN should be safe.

[spectoacc] 20/2/2020 16:44

I agree the prices could go either way, but right now the analysts are bang on - NESF's was today's, and earlier in the week we had a shocker.

[jombaston] 20/2/2020 16:18

An interesting discussion above about power prices which hit the NAV hard for Dec 31. It brings into focus the various risk factors though the argument is very circular. If the price forecasts decline further that may put off future investment in power generation - not least nuclear power - thus ensuring the declines are not realised! I also wonder what the impact of electric vehicles might be - suffice to say the forecasts could go either way.

I think TRIG is quite a complementary holding to JLEN as there are some differing risks at play in particular the higher overseas exposure for TRIG and AD sector for JLEN.

Difficult to say what the placing will come at...but it could still be a couple of pennies cheaper than today. I might pick up a few in the market if such an opportunity presents itself.

[hindsight] 14/2/2020 15:41

What if any discount does the placing look like being at, going on previous ?

[jonwig] 14/2/2020 14:12

It's a bookbuilding exercise:

To participate in the Placing, investors should communicate their bid(s) to Winterflood Securities Limited ("Winterflood"), including: (i) the number of New Ordinary Shares for which the investor wishes to subscribe; and (ii) the price or price range the investor is offering to pay for such New Ordinary Shares.

Let us know how you get on. Minimum size likely to be around £50,000. And prove you're a "professional".

[olliemagern] 14/2/2020 14:03

MEMBERS OF THE PUBLIC ARE NOT ELIGIBLE TO TAKE PART IN THE PLACING. THIS ANNOUNCEMENT IS DIRECTED ONLY AT PERSONS SELECTED BY WINTERFLOOD WHO ARE "INVESTMENT PROFESSIONALS"

I am shareholder but Selftrade will not let me take part in the placing.
Can shareholders apply through a distributor, if so which one?

[skinny] 11/2/2020 07:23

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[gateside] 29/1/2020 09:50

Thanks jonwigLike the diversification here, but they often seem to have "issues", with their various projects that other Renewable Funds don't. As highlighted by today's trading updates. Maybe they are just more upfront about everything.Holding this and TRIG

[gateside] 28/1/2020 15:57

jonwig, what's MMCC?

[spectoacc] 28/1/2020 15:39

Agree on premia, have never done well buying a Trust on one.

Others would argue the cashflows are what matters.

In renewables' case, also the ROCs.

I do not see power prices trending downwards for the next 30 years, irrespective of micro generation and panel efficiencies.

[jonwig] 28/1/2020 15:37

The broker note is pointing out something really simple: existing NAV premiums are possibly too high. My own view:

1) The green lobby is in the ascendant: finance for renewables projects will be cheap, for fossils, expensive or absent. That's irrespective of personal beliefs in MMCC.
But ...

2) Power prices are controlled by the CFD scheme, which will almost certainly trend downwards as renewables become more efficient (a new generation of solar panels can capture twice the energy when developed).

The point is not "sell JLEN", but "watch the premium". In fact, they are relatively upbeat on JLEN:

As a result, we take a very cautious view given the risks,’ said Brown, though he retained an ‘overweight217; recommendation on JLEN Environmental Assets which he said ‘has by far the lowest exposure to power price movements’.

[spectoacc] 28/1/2020 15:10

@hindsight - Hinkley is beyond farce, tho I don't agree with today's dodgy dossier broker note. Electricity prices are highly unlikely to tank whilst the govnt is pushing us away from petrol/diesel, closing coal-fired and gas-fired, failing to build new nuclear, and no (desperately needed) new gas-fired.

[weatherman] 28/1/2020 14:53

That is one thing that I worried about when considering investing in JLEN and GRID. How do they and others factor in depreciation of asset while paying out 6% yield and plan for 6% annual growth? Is it a sustainable economic model, and is an invesment good here when trading above NAV?

[hindsight] 28/1/2020 14:47

Means Hinkley point subsidy will be enormous as guaranteed about £92.50 + inflation

[spectoacc] 28/1/2020 14:36

"Brown’s comments were in response to BNEF which last week cut its UK baseload electricity price forecasts to show a 4% real annual decline to £19/MWh in 2040, slipping further to £15/MWh by 2050.

Brown said the new forecasts were the ‘most bearish’ he had seen and were significantly lower than as recently as October when he forecast a 19% drop in NAVs.
The analyst said BNEF’s ‘outlook contrasts starkly with the forecasts used by the renewable energy infrastructure companies which we estimate is for real growth of 0.6% pa for the 20 years to 2040 to an average of around £52/MWh.’"


Basically, a big d/g to all the renewables sector, seemingly based on a distinctly dubious guesstimate of future electricity prices.

[weatherman] 28/1/2020 14:20

Care to elaborate - I can't access the link.

[jonwig] 28/1/2020 12:46

no, this research:

[twistednik] 28/1/2020 12:31

Dropping again ...is it Coronavirus related ?

[spectoacc] 11/12/2019 15:47

I seem to be the only one expecting a hung Parliament, so doubt it.

[twistednik] 11/12/2019 15:41

Anyone know what's caused the recent drop ? Election fears ?

[the deacon] 07/10/2019 09:32

https://www.theguardian.com/business/2019/oct/07/uk-universities-in-landmark-deal-to-buy-energy-direct-from-windfarms

[the deacon] 12/9/2019 11:12

Good interview covering JLEN and renewables in general https://www.thisismoney.co.uk/money/investingshow/article-7428305/How-profit-investing-green-energy-reducing-waste.html

[jonwig] 09/9/2019 19:12

JLEN and battery storage, research report:

[11_percent] 30/8/2019 19:50

Hi guys, I am after some info.

Is it the case that you can no longer get planning permission for onshore wind turbines in Scotland.

Cheers.