Simec Atlantis Energy Share Discussion Threads

[jotoha2] 19/1/2023 14:43

Some talk going on that SAE are talking to DRAX with a view to a joint venture to burn wood chips at Uskmouth , will the planners be happy with that proposal I wonder.

[hyper al] 19/1/2023 10:14

william_quinn

That's very old tech. There was a wave machine that worked on the same principle on the shoreline of the Isle of Islay, west Scotland some some 30 years ago, remember visiting it.

Tidal turbines are far more reliable than wave generators.

[repins1] 12/1/2023 22:58

Agree but it's not vanadium buy any chance is it? Lol

[cyberbub] 12/1/2023 08:06

Gbjaanb, that's why there's a growing push for energy storage projects!

[robertspc1] 10/1/2023 20:50

Market seems to be expecting a fundraising here, maybe right but if co can get to the BESS financial close in this quarter as expected then the financial picture would be a lot healthier. I expect share price will be volatile on rumour and speculation

[jotoha2] 05/1/2023 14:28

on your marks ready steady................

[robertspc1] 05/1/2023 13:57

Good report from Enviro Audit Cmttee published today, with recommendations on tidal including setting a GW target for 2030's as they did for offshore wind. Might get further mention in the upcoming Net Zero revision

[wheeze] 17/12/2022 05:37

CFD round five looks interesting

[jotoha2] 15/12/2022 09:21

Just been reading the DRAX update , burning pellets from Canada is that really the answer for the uk electricity generation issue , maybe they can divert a few train loads to Uskmouth.

[robertspc1] 14/12/2022 15:32

Yes they alluded to a couple more BESS projects at the AGM presentation. But cash is very tight especially if there are any delays

[mdchand] 14/12/2022 11:54

Hi Robert

Don't foresee a need to raise more cash before Q1 23, but the repayment of the 4.9m debenture in June 23 is probably conditional on the financial close. That said, they could simply repay the debt via another debenture so I'm fairly comfortable with the risk.

However, I don't believe Uskmouth is a one trick pony. Don't forget this line from previous RNS's:-

'SAE has further land and infrastructure available at the Uskmouth site and is progressing further BESS projects and exploring other energy projects to deliver maximum value from the Uskmouth site for our stakeholders. SAE will continue to update the market as these initiatives progress.'

I note 'as these initiatives progress' rather than 'if these initiatives progress'. So there must be a degree of confidence over some of these other 'energy projects' especially as they have now received planning permission on the first project.

[robertspc1] 14/12/2022 08:46

Key ST issue is whether co can get to financial close of Uskmouth BESS in Q1 23 without needing to raise cash. If it can then that releases £4m plus £29m over 30 years, which it intends to securitise. That should largely clear existing debts. Then it is all about Meygen. 28MW CFD granted should deliver c£30pa for 15 years which is valuable plus next 50MW CFD round could double that. And ultimately the project could go to 400MW. But technology is expensive and risky. Expect a bumpy ride but could be LT upside

[robertspc1] 13/12/2022 15:34

Anyone been able to find any broker research on this ? Guess no one doing any

[jotoha2] 13/12/2022 08:34

5p required to confirm new direction of travel , lets have some numbers on BESS contribution please Mr CEO.

[z1co] 12/12/2022 17:44

A delayed buy of 1,416,889 @ 1.80p reported after the close.A few more traders selling after the news on Friday but after the consolidation the share price will rebound strongly again.

[z1co] 11/12/2022 11:55

The company's tidal stream energy project on it's own is worth significantly more than the present market cap of £12m @ 1.825p.




The MeyGen project is the largest planned tidal stream project in the world. In 2014 the MeyGen project received consent for 86MW.

The project is split into four phases:

MEYGEN PHASE 1 - 6MW

Status: Operational

The first phase of the MeyGen project comprises four 1.5MW turbines installed on gravity turbine support structures. The first phase demonstrates that the development of tidal arrays is both commercially viable and technically feasible. Operating since March 2018, the project has delivered over 47GWh of renewable electricity, and the invaluable lessons and experience drawn from the construction, installation, operation and maintenance of this phase will be fed into subsequent phases.

Each turbine has 3 blades with a rotor diameter of 18m. These blades pitch to maintain the machines installed capacity above a rated flow speed. The turbines also include a yaw module which rotates the turbine at each slack tide to face into subsequent ebb or flood tide.

The 150t turbines are mounted on a 1450t gravity foundation that supports the turbines under its own weight in average flow speeds of up to 10 knots. Each turbine has a dedicated quad armoured subsea array cable laid directly on the exposed seabed and brought ashore via a horizontal directionally drilled borehole within the foreshore bedrock.

The turbines feed into the onshore power conversion unit building at the Ness of Quoys, where the 4kV supply passes through an ABB PCS6000 converter to be made grid code compliant at 33kV for export into the local distribution network. Based on average UK annual consumption of 3.1MWh per annum this phase of the tidal array generates sufficient electricity to supply circa 6,000 homes.

The planning consent for Phase 1 includes three power conversion unit buildings, which have been designed in consultation with The Highland Council and Scottish Natural Heritage as modern functional industrial buildings that reflect their landscape and historic environmental context.

Phase 1 incorporates two different turbine technologies (SAE's AR1500 and Andritz Hydro Hammerfest AH1000 MK1), with environmental monitoring equipment installed that assesses the interaction between the tidal turbines and the marine environment, including marine mammals. The results of the monitoring work will be used to inform subsequent phases of the project.

The key milestones achieved to date are:

Crown Estate Agreement Lease – October 2010
Marine Licence granted by Marine Scotland – January 2014
Financial Close/Construction contracts conclude – September 2014
Construction commences at the Ness of Quoys site – January 2015
Offshore subsea array cables installed in Inner Sound – October 2015
Onshore building works complete, and grid connection energised – June 2016
Offshore installation of foundations and turbines commenced – October 2016
First electrons exported to grid – November 2016
ROC and Ofgem accreditation –– March 2017
1GWh exported to the grid – August 2017
MeyGen Phase 1A formally enters 25-year operations phase– April 2018
Subsea hub installed at MeyGen – September 2020
Project generates over 47GWh – October 2022
The supply chain for the Phase 1 project is spread across the United Kingdom, Europe and North America; 43% of the project’s capital expenditure was in Scotland and involved companies based in Caithness, and Ross and Cromarty. The operational phase of the project has been run from Nigg Energy Park since 2018 where up to 55% of the project's operational expenditure is sourced locally.

MEYGEN PHASE 2 - 28MW

Status: Awarded CFD

The MeyGen project has been awarded a Contract For Difference (CFD) in Allocation Round 4 for 28MW at a strike price of £178.54/MWh with a target commissioning date of 2027. The project will be transformational for the tidal energy industry, delivering the world's first commercial scale tidal array and securing MeyGen as the home of tidal energy.

MEYGEN PHASE 3 - 52MW

Status: Consented and under development

MeyGen phase 3 will see the remainder of the consented project delivered. Given the award of 28MW in AR4 MeyGen has an additional consent for 52MW which is eligible to be bid into future CFD Allocation Rounds.

MEYGEN PHASE 4 - 312MW

Status: In planning

The MeyGen offshore lease and site resource allows for a capacity out to 398MW to be installed. Phase 4 of the project would seek to expand the consents and build out the remainder of this capacity.

[z1co] 10/12/2022 10:00

Worth reading again:




Another pioneering developer, Simec Atlantis Energy, is planning to install up to 56 turbines on the seabed at the northernmost tip of Scotland by 2027. “We’ve got the world’s largest tidal stream project off the coast of Caithness – 70% of the global tidal output has come from that site,” says Sean Parsons, the company’s external affairs director. “We’ve just won a government contract to expand that site from what is now 6 megawatts to take it all the way up to 34 megawatts – enough power for 68,000 homes. It’s tidal at scale.”

Orders are even coming in from the rest of the world. “I’m feeling very excited about the industry and about what we are doing,” says John Meagher, director of business development at Nova Innovation, which operates seabed-mounted turbines off the remote Shetland Islands. “We are doubling the size of our Shetland tidal array from three to six turbines and we’ve exported our first turbine to Canada. We’ve won a feasibility study to look at the potential for an array [of turbines] in Indonesia. It just feels like things have really started to change.”

[z1co] 10/12/2022 09:58

07/12/2022


SIMEC Atlantis Energy

@simecatlantis
Great to hear cross-party support in Parliament today on the greater role tidal stream energy can play in our energy mix, especially the world’s largest tidal stream site MeyGen 🌊🌎💪