Simec Atlantis Energy Share Discussion Threads

[mrphil] 28/9/2023 07:46

Bet he wishes he'd bought them last week!

[robertspc1] 28/9/2023 07:28

Good to see the CEO buying shares. At the very least it means he thinks the company isn't going bust. And I guess he thinks the shares have bottomed too. There is hopefully positive newsflow short term ie Uskmouth lease sale, medium term ie Uskmouth projects and long term ie Maygen.

[skinny] 28/9/2023 07:05

@£36,000

[jotoha2] 27/9/2023 09:59

Everyone waiting for their development plans with Uskmouth then we should see a whoooooosh .

[the imperialist] 27/9/2023 09:46

Chart-wise this looks amazing. Turning up out of the downtrend.

[jotoha2] 27/9/2023 09:34

now for some serious news please .

[wilc42] 12/9/2023 23:24

Great. Thank you for the reply

[clabburn] 11/9/2023 10:45

The projects in Alderney went when they split off the engineering business. They may still get built but wont have anything to do with SAE. Its basically Meygen or bust for the company. If they safely deploy the next 2 phases, we might see them return to new development but for now they simply cant afford to do anything other than execute on getting to financial close and will need to watch every penny while they do that. Meygen is a 400MW project so they have their hands full until 2030.

[wilc42] 11/9/2023 09:11

Morning all. I remember reading about a project in the waters between Alderney and France in fast flowing waters . Is this still a thing? , or has it been dissolved .

[jotoha2] 08/9/2023 17:59

Am sure Labour will support this technology , as will Scotland , just have to be patient here .

[clabburn] 08/9/2023 10:12

Exactly right. We can certainly question the wisdom of some of their decisions but their hand was forced after the government pulled the rug from under them. I always had my reservations about Uskmouth but had they got approval it would have made the company a huge amount of money. I also think had it been located in England rather than Wales, it would have got approved. That's all in the past now though. The good news is that they have 50MW on a pathway to deployment and with other projects from competitors also getting contracts, it looks like we finally have the start of a genuine tidal energy industry taking form. Hard to understate how valuable that could be to Britain and the world. It was the reason I first invested in the company years ago and feels good to finally be able to look forward with cautious optimism again. Certainly not investment advice though. My personal view is the share price will remain at current levels until they reach financial close. The company is still walking a tightrope jugging their cashflow and debts and it wouldnt take much to sink the ship.

[muckshifter] 08/9/2023 09:23

Agree with your sense of frustration there Clabburn, the decision to abandon support for Meygen, which would have cost peanuts in government expenditure terms, and where the eventual success or failure of Meygen would have been determined almost certainly long after the Cameron administration was finished, was inexcusable.

It was that withdrawal of support which set Atlantis off on the search for another "leg", imo, which ended up in the daft deal for Uskmouth.

[clabburn] 08/9/2023 08:50

As a reminder, financial close for next phase is expected in 2024 according to RNS from last November. That's the big one. If they get that over the line we have clear sight of revenues worth £8-10 million per year in 2027 which would nearly double in 2028. If they can develop the entire 400MW they have consented they will be generating over £100M. More importantly if this project starts to look viable financiers and the market will start to trust the value of the company's equity giving them options for sorting out their debts. In the meantime if they can get a few batteries developed at uskmouth that should help as well. As I say, still a very long road to travel but they have survived longer than I expected when I think back to where they were 18 months ago.

[jotoha2] 08/9/2023 08:42

Agreed , history is showing that Cameron has been the worst PM ever , an inability to grasp basic financial matters. .

[clabburn] 08/9/2023 08:35

Very pleased to see this. Can't help but feel a strong sense of frustration though. We could have been at this point five years ago had the Cameron government not pulled the plug on support for tidal.

A 50MW array will once again make this a real company but still a long way to go before financial close. The good thing about the current CFD structure though is we only have 12 months to wait for the next round and they are talking about bidding in greater scale next year. Still very high risk but I can see a path to survival and recovery now.

[skinny] 08/9/2023 08:21

Hopefully.

[robertspc1] 08/9/2023 08:09

Positive statement... maybe life in the old dog yet

[skinny] 08/9/2023 08:07

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.

[robertspc1] 08/9/2023 08:05

Looks like they got some contracts for 22MW at 198 pounds. Helpful but not sure it moves the needle that much.

[robertspc1] 08/9/2023 07:58

AR5 results today I believe. Hope they won more wave contracts

[grim] 08/8/2023 20:49

BBC R4 today 'The Life Scientific' was mainly about tidal power & one of the scientists behind its adoption

[jotoha2] 04/8/2023 10:29

News please