Simec Atlantis Energy Share Discussion Threads

[skinny] 24/7/2023 07:24

Annual report in the next week then!

[skinny] 24/7/2023 07:02

SAE receives next payment for BESS project

Further to the Company's announcement on 23 February 2023, SAE is pleased to confirm that it has now received the GBP4.0m development premium from Uskmouth Energy Storage Limited ("UES"), as part of the arrangements that allow UES to deliver a 230MW / 460MWh battery energy storage system ("BESS") at the Uskmouth site.

This marks another major milestone in the delivery of one of the largest BESS projects in the UK and the unlocking of value for SAE and its shareholders.

Following the Company's update on 27 June 2023, SAE can also report that it is making good progress with finalising its audit and is on track to publish its Annual Report for the year ending 31 December 2022 later this month.

[robertspc1] 05/7/2023 08:19

Well the announcement came out. Brief as usual. I guess they will reveal more soon when the results are out

[jotoha2] 02/7/2023 11:58

Underwater turbines , why no more contracts from so called global demand for this technology , as for Uskmouth the Brown field site is not being utilised to it's max , any space left sfter the Battery storage should be sold for green technology housing , that will sail through planning !!

[frankleescarlet] 02/7/2023 10:47

@muckshifter i saw that a turbine had come out. what makes you think it was that andritz turbine?

[muckshifter] 29/6/2023 17:33

So one Andritz turbine went back in after an enormous delay to its repairs because of lead time on parts according to SAE and the only turbine to have performed consistently since initial installation, also one of the Andritz turbines, came out at the same time, leaving again just three operating. It will be interesting to see when that one is expected to return, if SAE make an announcement, but I doubt if they will.

[wheeze] 29/6/2023 11:09

htTps://www.theguardian.com/world/2023/jun/29/china-wind-solar-power-global-renewable-energy-leader?CMP=Share_iOSApp_OtherBritain way behind with its renewables programme. We are rapidly becoming the basket case of Europe

[robertspc1] 27/6/2023 13:42

Back in water

[robertspc1] 27/6/2023 13:41

Was expecting the results to be delayed and consequent suspension. But the completion of the land lease at Uskmouth is good news. Expect news that fourth turbine back in port soon so expect a bounce on return from suspension.

[sincero1] 27/6/2023 09:41

bilbosenior - 23 Aug 2022 - 15:26:32 - 2608 of 2906 SIMEC Atlantis Energy - SAE
Just to let you guys know, that 400k was a buy and NOT a sell...I know because it was mine...

price 23rd aug 1.60 .... today ... BIG OUCH ... what a TURNIP....

[andyview] 23/6/2023 11:47

Bought 25k today,

Gla

[desflurane] 22/6/2023 17:05

hxxps://www.thenational.scot/news/23605583.scotland-has-tidal-stream-capacity-rest-world-combined-lse-study-says/

[clabburn] 21/6/2023 17:37

It was. Had the project been in England it proabably would have got through and I do have sympathy with the management to a degree - when the government cut all funding to tidal they didnt have great options but its become abundantly clear that nothing good has come from the SIMEC merger. Ive been here long enough to remember the tidal barrage plan and the JV plan with a French start up doing floating wind turbines. Persisting with that probably would have been a better bet in hindsight than burning plastic. Still, that's all ancient history now. The hope is they can eake out cash from the Uskmouth battery project and get Meygen phase II over the line. From there, I can see a path to redemption but insolvency is also very much a possibility.

[wheeze] 21/6/2023 16:05

Yes, that Uskmouth waste pellet rubbish cost the company and us a lot. It was a gamble which did not pay off.

[clabburn] 21/6/2023 14:10

Still a long road ahead for SAE. Im watching to see if they have entered another phase of Meygen into the CfD auction this year but cant see too many milestones this year that can stop the rot. They have sold off much of their value including their future rental income from hosting the battery at Uskmouth. Progress with Meygen is key. In theory we are supposed to reach financial close for phase 2 in 2024 but it will take some good work from the board to figure out how they can finance this. Dealing with the abundance bonds is an important step in that respect.

[wheeze] 21/6/2023 09:31

4 million cash payment due before the end of this month

[robertspc1] 21/6/2023 07:46

That takes away the short term financing risk. Now need to get the Uskmouth lease signed to release cash and get that fourth turbine in the water

[mjb252] 08/6/2023 22:02

https://www.bbc.co.uk/news/uk-politics-65846871

[jotoha2] 26/5/2023 10:54

1.4 should confirm the new trend , subject to more positive news.

[wheeze] 24/5/2023 13:34

Couldn't agree more