Kedco Share Discussion Threads

[timbo] 03/6/2013 07:20

Heads of terms signed for funding of Enfield Biomass CHP project

Kedco plc, (AIM:KED) the renewable energy developer and operator focusing on the production of clean energy in the UK and Ireland, is pleased to announce the appointment of the Foresight Group ("Foresight") as the preferred funding partner in relation to its 12MW Enfield Biomass CHP project ("the Project") located in North London.

Kedco has signed a non-binding heads of terms with Foresight for the provision of debt and equity facilities which will part finance the construction and operation of the Project. The heads of terms are subject to completion of due diligence, legal documentation and final investment committee approval. As part of the financing structure a co-investor will be required to invest alongside Foresight funds. Under the heads of terms Kedco will retain a substantial equity participation in the Project in line with the Company's stated strategy and will not be required to invest any further funds on financial close.

It is intended that Foresight will part fund the Project through its existing funds under management, which includes the Foresight Environmental Fund ("FEF"). The FEF was corner stoned by the London Green Fund (LGF), and has attracted investment from a number of private sector investors. The FEF is part of London's drive to encourage investment into waste and energy efficiency infrastructure to create economic growth and jobs.

In addition, the Company announces the appointment of Fichtner Consulting Engineers Limited as technical advisers to the Project. Fichtner will be responsible for managing the tender process for the Engineering, Procurement and Construction ("EPC") contract as well as negotiations with the heat offtakers. The tender process for the EPC contract has already commenced and discussions with contractors are on-going. The company will now move towards finalising and executing the various project and investor documents with a view to reaching financial close and starting construction in Q3 2013.

Gerry Madden, CEO of Kedco, commented: "The Board is delighted to have appointed Foresight as our preferred funding partner for the Enfield Biomass CHP project. Foresight has been actively involved in the funding of Biomass CHP projects in the UK and we look forward to working with them to achieve financial close in the near future."

[197300] 03/6/2013 07:20

The News of this funding should now move the shares forward

[allrise] 29/5/2013 17:41

Couldn't agree more 4nca. Absolutely - get Enfield running asap.

[4nca] 29/5/2013 10:54

Today's announcement is all well and good but these are tiny projects that, in any event, will have no effect on income until at least Q2 14. The Enfield Bio-mas project is the game changer here. What we really need is confirmation that they have moved from expressions of funding interest to signed legally binding offer. Last update below.

The Company has received a number of proposals regarding the provision of financing for the Enfield Project. The proposals are on a variety of terms and encompass funding the Enfield Project on either a combined debt and equity or pure equity basis.
In order to assist the Company in progressing the various proposals, Kedco is pleased to announce that it has appointed N+1 Singer as its equity adviser in relation to the Enfield Project. N+1 Singer is one of the top five Institutional Broking and Corporate Advisory teams in the UK with over 120 listed corporate clients. N+1 Singer's specialist Renewable Energy and Clean Technology team has advised on the raising of equity financing for a number of other renewable energy projects, notably the Helius Energy CoRDe biomass plant project.

This appointment is in line with Kedco's stated strategy of raising construction finance at the project special purpose vehicle ("SPV") level rather than through the quoted holding company, Kedco plc. The Company currently owns 100% of the share capital of Enfield Biomass Limited, the SPV for the Enfield Project.

The Company is also pleased to have received outline terms from a major UK bank for the provision of up to 70% of the total project cost. The terms provided are of an indicative nature only and are non-binding. The terms however are in line with management expectations. The Company is working with the bank to move towards a fully credit- approved term sheet and will provide a further update in this respect as appropriate.

[197300] 29/5/2013 08:58

Another rns today, they are starting to keep us informed

[timbo] 24/5/2013 08:36

Press release 24 May 2013 Kedco plc("Kedco" or the "Company")Update on 800kw Pluckanes Windfarm projectKedco plc, (AIM:KED) the renewable energy group focusing on the production of clean energy in the UK and Ireland, is pleased to provide an update on progress of the 800kw Pluckanes Windfarm project located in Donoughmore, Co. Cork. The project is being developed by Pluckanes Windfarm Limited ("Pluckanes"), a wholly owned subsidiary of Kedco plc.The project is fully consented having received planning permission and an offer to connect to the national grid. Pluckanes has finalised and signed a contract with Enercon GmBH for the supply and installation of an E48 800kw wind turbine and associated electrical works. A contract for the civil works associated with the project has also been signed with Cro Bar Construction Limited.A pre-commencement notice has been issued to Cork County Council and construction work on the site is expected to start in early June 2013. The current construction programme envisages the project being connected to the national grid and generating electricity by the end of September 2013.Pluckanes has also signed and accepted an offer letter for EUR1.15 million of senior term loans with Allied Irish Banks plc ("Allied Irish") to facilitate the construction of the project.Allied Irish has completed its due diligence and the Company is in the process of satisfying the remaining conditions precedent to the drawdown of the bank facilities. Drawdown of the facilities is expected to coincide with the commencement of construction works in early June 2013.Gerry Madden, CEO of Kedco, commented: "The Board is delighted with progress on the Pluckanes wind project and looks forward to construction works starting in the coming weeks. We expect to make further announcements regarding other single wind turbine projects in the near future, and we look forward to updating shareholders as appropriate."

[wexboy] 23/5/2013 07:17

2013 – The Great Irish Share Valuation Project (Part XII)

I take a look at Kedco, plus a batch of other Irish stocks:



Cheers,

Wexboy

[steve243] 21/5/2013 15:37

WH Ireland report just out as BUY - target price of 2p, currently 0.8p

[timbo] 14/5/2013 23:09

Reminder of funding comments from 18th March Enfield Update - sounds like they have finance from various sources (point 1 below) but they would perhaps prefer to have bank financing as it wouldn't dilute the shareholdings further...Kedco PLC Update on Enfield Biomass CHP project Press release 18 March 2013 Kedco plc("Kedco" or the "Company")Update on Enfield Biomass CHP projectKedco plc, (AIM:KED) the renewable energy developer and operator focusing on the production of clean energy in the UK and Ireland, is pleased to announce significant progress in relation to its 12MW Enfield Biomass combined heat and power ("CHP") project (the "Enfield Project") located in North London. In addition, the Company announces the appointment of N+1 Singer as equity adviser to the Company in respect of the Enfield Project and the receipt of a number of offers relating to its financing. The Enfield Project, which has full planning and environmental permission for the conversion of 60,000 tonnes of waste timber per annum into up to 12MW of electricity and heat, remains on track to reach financial close and start construction in the third quarter of 2013. 1. Enfield project financeThe Company has received a number of proposals regarding the provision of financing for the Enfield Project. The proposals are on a variety of terms and encompass funding the Enfield Project on either a combined debt and equity or pure equity basis.In order to assist the Company in progressing the various proposals, Kedco is pleased to announce that it has appointed N+1 Singer as its equity adviser in relation to the Enfield Project. N+1 Singer is one of the top five Institutional Broking and Corporate Advisory teams in the UK with over 120 listed corporate clients. N+1 Singer's specialist Renewable Energy and Clean Technology team has advised on the raising of equity financing for a number of other renewable energy projects, notably the Helius Energy CoRDe biomass plant project.This appointment is in line with Kedco's stated strategy of raising construction finance at the project special purpose vehicle ("SPV") level rather than through the quoted holding company, Kedco plc. The Company currently owns 100% of the share capital of Enfield Biomass Limited, the SPV for the Enfield Project.The Company is also pleased to have received outline terms from a major UK bank for the provision of up to 70% of the total project cost. The terms provided are of an indicative nature only and are non-binding. The terms however are in line with management expectations. The Company is working with the bank to move towards a fully credit- approved term sheet and will provide a further update in this respect as appropriate.

[allrise] 14/5/2013 16:31

Indeed rus4 - that is the big question. It's all very well having a large development pipeline, but when and where are they going to get the finance to get all of these producing electricity? They still haven't completed financing for their big flagship project in Enfield. Here's hoping they can get moving on that one, and each of the others. Getting all those projects into production would really see a movement in the SP, but the financing needs to progress at a much more rapid pace than up to now.

[rus4] 14/5/2013 16:11

Great news. I presume the big task will be to finance the projects

[197300] 14/5/2013 12:53

appear to be achieving what they forecast

[timbo] 14/5/2013 09:42

Bearing in mind that each MW seems to roughly equate to £1M turnover annually (going by recent press releases) this tiddler might not be small for very long...

[ein] 14/5/2013 08:43

Steady progress here, like it a lot.

[timbo] 14/5/2013 08:17

Good developments... Press release 14 May 2013 Kedco plc("Kedco" or the "Company")Capacity under co-development agreement increased to 52.5MWKedco plc, (AIM:KED) the renewable energy group focusing on the production of clean energy in the UK and Ireland, is pleased to announce that its wholly owned subsidiary Reforce Energy Limited ("Reforce") has expanded the capacity and number of windfarm projects under the co-development agreement that was announced on 21 January 2013.The capacity of the three windfarms in the North West of Ireland, which formed part of the original co-development agreement, has now increased from 30MW (as previously announced) to 40MW. Work has already commenced on the planning application for these three projects and it is intended that they will be submitted to the planning authorities in Q3 2013.In addition to this, a fourth project in the same region of Ireland has been added to the co-development agreement. This project will have an expected capacity of 12.5MW, bringing the total capacity under development through the agreement to 52.5MW. A planning application for this project is also expected to be submitted in Q3 2013.The parties also continue to assess and review a number of additional new sites, which will form part of the agreement, should they meet Kedco's site selection criteria.Gerry Madden, CEO of Kedco, commented: "With this increase in capacity and addition of a new site the Company has successfully reached its minimum target for 2013 of doubling its development portfolio to 140MW, and the Board is pleased to have achieved this well in advance of the year end."

[timbo] 23/4/2013 07:04

Kedco plc (AIM:KED), the renewable energy group focusing on the production of clean energy in the UK and Ireland, is pleased to announce the appointment of Shore Capital & Corporate Limited as Nominated Adviser and Shore Capital Stockbrokers Limited as Broker to the Company with immediate effect.Gerry Madden, CEO of Kedco, commented:"We are very pleased to announce the appointment of Shore Capital. We look forward to working closely with them as the Company enters its next exciting phase of development and growth."

[allrise] 22/4/2013 10:44

That's disappointing. I don't really understand why you would think that these couple of weeks would be good then (one week later, still no real improvement). I don't see anything material that will provide the much-needed uplift. I do agree with your opinion about the share price changes based on such small volumes and values of trades. But if there is not a lot of interest (yet) in the stock, that's what it's up against. Some substantial real progress (financial close and beginning of the build on the Enfield project + full production in Newry) is needed to get this one moving. Everything else is just bluster.

[topbanana1973] 20/4/2013 10:07

There is no reason why this stock should yoyo and the amount it changes based on a few small share deals. My comment about the next couple of weeks was based on the information that is in the public domain about this company, interims, solid financial plan and good backing. We shall see if the it comes to fruition

[allrise] 16/4/2013 14:37

Timbo, I imagine TB's post related to the news that was released (Interim Results, and also relating to convertible loan notes) on 28th of March.
But I'd still be really interested to hear what TB thinks is coming for the next two weeks....?

[timbo] 16/4/2013 14:06

TopBanana1973 - 02 Apr 2013 - 08:05 - 260 of 266Which way is the news on the 28th going to move this? Positive/Negative.What are you expecting on 28th TB? I've reviewed the recent RNS releases and can't find anything...

[ivor hunch] 15/4/2013 18:04

What you are missing is the fact that earlier this afternoon the share price was down 0.2p which equates to a 25% drop (Yahoo Finance and iii both registered the drop). It later rallied and ended the day 0.10p down at 0.7p which represents a 12.5% fall (again agreed by Yahoo Finance and iii)
I'm sure you did very well at school, but despite that you have more idea that me as to why KED suffered such a big loss today.
Ivor

[197300] 15/4/2013 16:08

ivor, when i went to school i learned thatthe price drop today equals less than 10%, or am i missing something

[ivor hunch] 15/4/2013 14:41

Not looking too good today. Does anyone know why the share price has dropped 25% this afternoon?

[allrise] 15/4/2013 14:30

Really? You must have better insight than me. I'm hoping for its success, but lately it hasn't been looking good. Have you a reason for your optimism for the next couple of weeks? What's going to make the difference?

[topbanana1973] 15/4/2013 06:44

Here we go, after months of ???? These next couple of weeks are going to be good for this stock.