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| 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% | 2.15 | 08:00:29 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 2.15 | 2.05 | 2.15 | 2.15 | 2.15 |
| Industry Sector |
|---|
| ALTERNATIVE ENERGY |
| Top Posts |
|---|
Posted at 21/2/2025 06:46 by robertspc1 Given the potential value creation at Uskmouth, SAE could do with a well funded partner like Brookfield or Quinbrook. With Simec holding 30 per cent of the equity, there has to be the possibility of someone acquiring their stake as an entry point. |
Posted at 20/2/2025 14:59 by jotoha2 Well done SAE , lets get some serious investment into the company , target still 16p with ease. |
Posted at 10/2/2025 08:56 by robertspc1 Have you considered how much they have spent on the trying unsuccessfully to keep 4 turbines in the water. Thankfully they at least had the sense to let go of the turbine division. They also appointed advisers on Meygen later phases about two years ago. I think tidal has a future but SAE doesn't have the balance sheet to fund it |
Posted at 02/2/2025 18:49 by robertspc1 Different views are what makes markets work. 1. The point about pulling forward potential profits onto the balance sheet via Uskmouth revaluation is a valid one. But they must heavily discount the BESS project cash flows before doing this as the projects are still pre or in development. As they progress the discounts drop and the valuation will increase. 2. Meygen and proteus stake have very little value as there is substantial debt. I think a restructure is under way which should dilute SAE stake and remove the debt. 3. The Abundance debt is expensive and I think they will try and refinance this once BESS projects are live. 4. There is scope for a significant equity recovery ... but 16p is just plucking a number from the sky |
Posted at 31/1/2025 10:03 by jaknife jotoha2,"Indeed , 16p still very much a realistic medium term target." Have you actually thought through the numbers? On what basis do you get to 16p? At 16p the market cap would be £115.6m (772.8m shares in issue, see: For £115m you're buying a business that: 1. Loses a small fortune every year generating electricity, 2. Has a high cost base, partly from paying excessive rewards for failure to its board of directors, 3. Has material eye-watering outstanding debt, a large chunk of which was obtained by dishonestly telling old age pensioners that they were a green business, blah blah blah, and then not paying them back when they said that they would pay them back, and 4. Has a grid connection that the company has exploited once with a "BESS" project and which they would like to exploit again. Only 4 is a positive number, 1, 2 and 3 are all negatives. And, because SAE's directors are skanky at the extreme, the directors have already capitalised the profits that they expect to make from 4 and added those profits to the balance sheet. Hence, when you look at the interim balance sheet, there is a line "Investment property - £49.5m" that represents all of the profits that SAE hope to make from future BESS projects: Note 13 (page 56) to the annual report confirms this accounting treatment: So the future profits that SAE might make from BESS projects have been assessed at £49.5m and capitalised on the balance sheet. From that you then have to deduct the losses that SAE make from 1, 2 and 3 for however many years that they intend to continue to: 1. Run a tidal wave business that has lost money every year since it was established and continues to lose money now but they run in any case because some shareholders like the idea of tidal power even if it is hopelessly loss-making. 2. Pay themselves stupid amounts of money. 3. Perhaps one day pay back the bonds that they mis-sold to the dear old grannies In the interims SAE reported a loss of £6m. Absent any change to their business then, regardless of what SAE do with BESSs, SAE are going to report a loss of c. £6m pretty much every six months. And that's because they've already recognised the profits that they hope to make from the BESS projects in the 2023 annual accounts. Who would have thought that accountants would let you do something so skanky as that? A more sensible price target is zero! JakNife |
Posted at 04/12/2024 07:17 by wheeze SAE brings full power to MeyGen tidal stream site SAE is pleased to announce that, following the successful deployment of turbine 4, the world leading MeyGen tidal stream site now has all four turbines fully operational. This means that the site is now at full power for the first time, delivering 6MW of predictable, renewable power. |
Posted at 22/11/2024 12:50 by skinny SAE is pleased to announce it has received the penultimate milestone payment of £1.5m under its agreement with EL (Uskmouth) Limited ("EL"), a subsidiary of FPC Electric Land.On 5 December 2023, SAE announced that it had agreed to sell the freehold land owned by SAE to EL, for a milestone-linked total gross cash consideration of £9.8m. The land is being used for a 460MWh (230MW) BESS being constructed by Uskmouth Energy Storage Limited. The EL land represents only a small proportion of the land owned by SAE at the Uskmouth site available for BESS project development. The milestone payment was received following the successful completion of civil works at the site. Today's announcement marks the third milestone payment. The first £5.0m payment was received on 28 March 2024, and the second £2.0m payment was received on 28 May 2024. SAE looks forward to the continued good progress being made on the project. The final milestone will be paid following the delivery of 10% of the batteries for the project. SAE recently released a video animation highlighting the scale and benefits of the USEP site. This can be viewed here |
Posted at 11/11/2024 08:37 by robertspc1 For me the main value in SAE remains the Uskmouth site. Obviously lots of BESS potential and thankfully that market is improving, see GRID statement today. Meygen has debt it can't service and is still risky immature technology. SAE don't have the funds to invest in it and it needs GBE or others to recapitalise it with SAE becoming a minority shareholder. That has to happen to soon as debt repayments due end Nov. |
Posted at 04/11/2024 14:17 by ttcroft 4 November 2024 Pre cursor to green funding from Labour?SIMEC Atlantis Energy Limited("SAE Renewables", "SAE" or the "Company") Politicians see first-hand the scale, opportunity and regeneration of the Uskmouth site SAE was delighted on Friday 1 November 2024, to welcome Jessica Morden, the Member of Parliament for Newport East, John Griffiths, the Member of the Senedd for Newport East, and Dimitri Batrouni, the Leader of Newport City Council, to the Uskmouth site. SAE Chairman, Duncan Black, and CEO, Graham Reid, along with senior SAE team members, welcomed the politicians to the Uskmouth Sustainable Energy Park. SAE has been transforming the Uskmouth site. Once home to a coal fired power station, SAE has utilised the existing infrastructure, land and grid connection to turn it into one of the largest Battery Storage sites in the UK. With one project already in construction and the next due to start construction next year, SAE is making rapid progress in the delivery of over 2GWh of Battery Storage projects, with the potential to expand to over 3.5GWh in the future with longer duration batteries in the future. |
Posted at 11/6/2024 11:28 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: www.saerenewables.co |
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