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Zumore,
There are 104 companies listed in the London Stock Exchange Mining sector :
https://www.londonstockexchange.com/live-markets/market-data-dashboard/price-explorer?markets=AIM&categories=EQUITY§ors=551020,551030
As far as I'm aware, only two of these, CRCL and KIBO (via its MAST subsidiary) have entered the UK reserve power generation sector.
So if CRCL is 'dawdling' as you so ludicrously put it, what on Earth are the others doing!
The comparison with SMS (a £925M. cap. company) isn't comparing from an equal starting point, as SMS has had a three month head start on developing its Burwell energy storage project: SMS starting from 17th. March last year, and CRCL (then called RGM - Regency Mines) starting from its 19th. June 2020 50% acquisition of Weirs Drove Development Ltd ("WDD"), a developer of energy storage and solar projects in the United Kingdom with an initial site in Cambridgeshire.
(CRCL has since acquired the other 50% to give it full ownership.)
17 March Partnership Agreement to develop CaRe Assets
" ... The Energy Management division is now well positioned to extend its offerings to a wide range of CaRe assets and services. SMS has identified a pipeline of opportunities across a number of vertical markets which are at various stages of development, from initial proposals through to feasibility studies and trial stages.
The initial CaRe assets identified include energy efficiency systems, energy storage, distributed generation, EV charging, and these assets and services will be developed for a range of end customers, including critical nation infrastructure (water authorities, rail, mobile telco's), public sector, developments, and retail / enterprise. ..."
https://ir.q4europe.com/solutions/smartmeteringsystems/3678/newsArticle.aspx?storyid=14635294
19th Jun 2020 7:00 am RNS Acquisition, Fundraising and TVR
https://www.lse.co.uk/rns/RGM/acquisition-fundraising-and-tvr-iphgr88fvse1e3y.html
Since its acquisition of the Burwell battery project, progress on this project has included:
• Completetion of a positive project economic review.
• Receipt of planning permission.
• Receipt of a grid connection for the project.
• Agreement of lease heads of terms with the landowner.
This is highly impressive progress, especially during a pandemic, and is the very antithesis of dawdling.
All that is awaited now is completion of the land sale, which is expected any day.
But that's out of CRCL's hands, as it's neither the buyer or seller of the land, so how can you accuse them of dawdling over it!
Fuse I'm sorry. I didn't see that you mentioned SMS.
I must read the other posts before I post in future.
I succumbed and glanced in the SMS March yearly results RNS and I see it says £380,000 build costs per MW. Bear in mind Corcel are a far smaller company than SMS so I'm sure Corcel build costs would be greater.
From SMS RNS:
"Most notably, SMS is now actively operating within the grid-scale battery storage sector.
Grid-scale battery storage technology enables power system operators and utilities to collect energy from the grid (i.e. charge) and then discharge this energy at a later time, when required. It is a critical part of the changing face of the electricity network, becoming a practical alternative to new-build electricity generation or network reinforcement, as it enables greater flexibility to connect larger amounts of renewable energy's intermittent generation. An increased capacity of batteries on the grid will, in many ways, also contribute to a more affordable energy system for consumers.
It is estimated that between 2015 and 2050 the renewables market will grow by 249%, whilst the flexible capacity market, the segment in which battery storage sits, is predicted to grow by 545%. National Grid forecasts a need for c.30GW of electricity storage by 2050 to help reach 'net zero'. With 25 years' experience in the design and delivery of large-scale electrical infrastructure projects and being accredited for design up to 132kV under the National Electricity Registration Scheme (NERS), SMS has the end-to-end capability to originate, design, build and operate grid-scale battery projects.
The economics of this asset class are attractive with an initial EBITDA yield of c.11-14%, and margin of c.75%, against a build cost of c.£380,000 per MW, from an asset whose base electrical infrastructure has an expected life in excess of 40 years (with battery cell replacement around every 10 years). These forecasts are supported by independent industry modelling, both of the revenue and the long-term growth in system demand for the asset class to support the transition to a net-zero electricity network, and are considered to be a conservative baseline. The economic profile of these assets thus provides secure long-term returns after a relatively quick construction phase of typically one year or less.
SMS has two projects, in Burwell and Barnsley, totalling an initial 90MW storage capacity, that will be constructed and are forecast to be energised by the end of 2021. SMS will deliver the projects in their entirety, from initial construction through to ongoing operation, trading, maintenance, and asset management for the 40-year lifespan of the batteries"
They are just waiting for the land sale to go through. That is not in their hands. As soon as it is done we will see the lease signed off then we will rerate towards Mast valuation.
Apparently SMS is a listed company. So if somebody cares to delve through their RNSes or presentations (I'm not!) maybe you would probably find the costs to build a 50MW battery storage project in Burwell.
It appears company SMS are motoring ahead with their 50MW project in Burwell, Cambridgeshire:
https://www.sms-plc.com/insights/blogs-news/sms-begins-construction-of-90mw-grid-scale-battery-storage-projects/
And here is a March 2021 one minute Burwell progress video:
https://m.youtube.com/watch?v=GET4G_J6QMA