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SAE Simec Atlantis Energy Limited

0.00 (0.00%)
24 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Simec Atlantis Energy Limited SAE London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.00% 2.60 16:35:15
Open Price Low Price High Price Close Price Previous Close
2.60 2.60 2.65 2.60 2.60
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Industry Sector

Simec Atlantis Energy SAE Dividends History

No dividends issued between 24 Jul 2014 and 24 Jul 2024

Top Dividend Posts

Top Posts
Posted at 10/7/2024 10:49 by skinny
As at 28 March 2024 SAE had in issue 722,812,335 ordinary shares. No shares are held in treasury.
Posted at 09/7/2024 15:53 by jotoha2
Tidal power has been confirmed as one of the 3 areas GBE will invest in , as of today they are talking around £16 billion , so am expecting a fair portion to SAE ,GBE will take a shares for their cash.
Posted at 25/6/2024 16:03 by tomboyb
Posted at 25/6/2024 15:54 by gkace
Next milestone payment will be soon. Nice progress.

The freehold land sold to EL is limited to the land used by Quinbrook Infrastructure Partners, for their 230 MW BESS ("Quinbrook BESS") at SAE's Uskmouth Sustainable Energy Park.
With the achievement of this first milestone and the payment of £5m to SAE, EL has now taken ownership of this land.

The remaining balance of £4.8m payable under the EL Agreement will be payable against three further milestones expected to be achieved over the next 12 months. 
Posted at 25/6/2024 07:40 by skinny
Duncan Black, Chairman of SAE Renewables, commented:

"I am excited about the future for SAE. We have the funding and visibility on future revenues we need to be able to deliver our development projects and service our debt. We have a pipeline of projects that would be the envy of many much larger companies, and we have a Board and Executive team who have a track record of successful delivery. I would sincerely like to thank all the members of our team whose hard work and dedication during the past 12 months has delivered outstanding results for SAE. To the stakeholders in our projects, bondholders, shareholders and governments - thank you for your continued support of our business."

Graham Reid, Chief Executive Officer of SAE Renewables, commented:

"During 2023, the business has met or exceeded all of its objectives. This provides a great platform from which we can embark on our new strategy: Building a Sustainable Future to 2035, advancing our transition towards becoming an Independent Power Producer."
Posted at 25/6/2024 07:40 by skinny

2023 Financial Highlights include:

· The Group reported a profit of £23.2m, compared with a 2022 loss of £11.1m.

· Increase of 292% in Group revenue to £15.3m (2022: £3.9m).

· Revenues available to the Group, which excludes ring-fenced revenue earned by the MeyGen tidal array, rose to £10.7 million (2022: £nil) . The sale, at Uskmouth, of a ready-to-build 230MW BESS project with a grid connection for £10.0 million accounted for the majority of 2023 revenues, with the balance of £0.7 million being rental income from the Uskmouth site.

· Net Assets increased 678% to £44.2m (2022: £5.7m). The major increase in the valuation of the Group arises from the reassessment of the value and size of our battery storage projects.

· Increase in EBITDA to £8.3m (2022: EBITDA loss of £5.8m).

· Reduction of 30% in SAE's Group debt, excluding MeyGen debt, to £13.7m (2022: £19.7m). This followed the successful execution of the lease agreement for the 230MW BESS project with Uskmouth Energy Storage Limited. SAE also reached an agreement with its bondholders to rephase bond repayments out of 2024 and into periods commencing in December 2025 and culminating in a final £7.7 million repayment in December 2029.

· Reduction of 29% in Operating costs to £5.0m (2022: £7.0m).

Operational highlights include:

· Final payment received on 230MW/460MWh Uskmouth Battery Energy System Storage (BESS) projects, now under construction by Uskmouth Energy Storage Ltd.

· In December 2023, signed conditional land sales agreement with Electric Land for £9.9 million for the 230MW BESS. Milestone income to be received during 2024 and into 2025.

Post-period highlights

· Achieved planning approval for a new 120MW/240MWh BESS which repurposes the site of the Uskmouth power station former cooling towers.

· Commenced development of an additional 600MW/1,200MWh of BESS at the Uskmouth site.

· Submitted the planning application for the Mey BESS project, near Caithness in Scotland. SAE has an agreement option to lease the required land and has secured a modification of the MeyGen grid connection to increase capacity to 287MW with full import and export rights.
Posted at 25/6/2024 07:05 by pharmaboy3
Nice results. Feels more solid,long-term bizSIMEC AtlantisEnergy - Final results #SAE @atlantisresplc HTTps:// #voxmarkets
Posted at 13/6/2024 11:29 by jotoha2
We shall see , sae has come of the bottom and is now climbing , 50% increase in price so far , and once GBE is handing out the cash this little dog will fly 3/5/10p enjoy yhe ride.
Posted at 11/6/2024 12:28 by wheeze
Application for up to 300MW / 1.2GWh Scotland BESS project SAE is pleased to announce that it has submitted an application for Section 36 consent to the Scottish Government's Energy Consents Unit for a battery energy storage system ("BESS") project of up to 300MW, sized for up to 4 hours duration (1.2GWh). The project, named "Mey BESS", will be located inland, 5.5km southwest of SAE's MeyGen tidal project, 0.5 km southeast of the village of Mey in Caithness and located adjacent to the planned and fully consented SSE Gills Bay 132kV substation project. SAE has secured all the necessary land rights and 287MW of both import and export grid capacity to allow for the BESS project to be built. The grid capacity is planned to be shared between Mey BESS and the Company's MeyGen tidal array with 207MW being utilised exclusively for BESS and the balance of 80MW secured for the expansion of the MeyGen tidal stream project. The consent application is sized at 300MW to allow for further expansion from 207MW to 300MW which would be subject to future grid applications. The grid connection and all infrastructure is consented and ready to be built, with an anticipated completion of April 2027. It is expected that the Mey BESS project will initially be built using 2 hour duration batteries to give an output capacity of 414MWh, with the site layout sized in the planning application to allow for expansion using 4-hour duration batteries of up to 300MW/1.2GWh. The development rights in the project are held by Mey Energy Storage Limited, which is owned 84% by SAE and 16% by Scottish Enterprise. SAE have significant presence and operations experience in the local area, having been operating the MeyGen tidal array in Caithness for many years. The dedicated project page will be available at: .RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy. END MSCGPUWCQUP
Posted at 08/9/2023 08:07 by skinny
SAE secures support to deliver another phase at the world leading MeyGen project

SAE is delighted to announce that it has successfully secured 4 Contracts for Difference (CfD) in the latest allocation round, for the world leading MeyGen site. These CfD contracts, which guarantees GBP198 (GBP/MWh), for 15 years from 31(st) March 2028 commissioning date, will allow SAE to deliver a total of c.22MW of clean, home-sourced, predictable power at its MeyGen site in Scotland.

SAE has been making good progress on the delivery of the 28MW secured in the AR4 round (July 2022) and the success in this round will help the project achieve greater economies of scale and address the significant cost increases faced by those successful in 2022.

By delivering these projects in parallel, SAE will be delivering a 50MW tidal stream array, in addition to the 6MW already operational at the MeyGen site. This is the equivalent of over 65,000 homes per annum being powered by the tide. To deliver these projects, SAE is in advance discussions with a consortium, involving global manufacturing and engineering firms, which will see the deployment of 3MW turbines. These turbines will be the most powerful tidal turbines ever deployed. SAE is working to ensure the project achieves the maximum benefit for the UK and Scotland, with the potential for a turbine manufacturing facility being established near the site.

This milestone has been achieved thanks to the huge support of the SAE shareholders, stakeholders, and project partners.

This is another important step for the project and the industry, but it is vital this progress is maintained. SAE looks forward to working with all stakeholders to ensure that the next auction round delivers greater scale and unlocks the full potential of both the MeyGen site and the wider industry.

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