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Thanks, OT!
Can you elaborate what that means? £50m sounds like a lot. How does SAE benefit here?
😅
That old chap is a great find...
Investing is always good and this one is very good for BESS.
🤣🤣🤣🤣
Not much news around but good to see Greater Gwent Pension Fund investing in Uskmouth BESS via
£50m allocation to the Quinbrook Renewables Impact Fund.
https://www.room151.co.uk/151-news/greater-gwent-pension-fund-ramps-up-levelling-up-investments/?trk=feed_main-feed-card_feed-article-content
.. when it's quiet and no wind is blowing. Only the moon shines on me as I open the app on my phone where I can track the current energy consumption of our house. In the darkness I look at some text on the phone saying "0 Watts", the energy produced by our photovoltaic installation on the roof right now and wonder.. wouldn't it be nice if we had something that could charge this expensive battery in my basement. I wish I had a tidal stream turbine.
No, I'm not drunk. Just bored. Good night guys.
The MDD is mandatory for all CFD projects. it looks like meygen phase 2 has cleared this hurdle.
That is if the MDD is mandatory and there are any caveats if breaching 18 months.
"Whenever I see day traders in here it kinde feels like I'm staring at that one guy at the train station that is talking to himself." - Good analogy MT, made me chuckle
@strangy I'm not 100% sure but from what i've read I think each cfd project has a milestone delivery date (MDD) when the developer needs to provide evidence that they have either (a) spent lots of money on the project or (b) signed key supply contracts. The situation for allocation round 4 is described at the link below . The MDD is 18 months after CFD contract signature. All round 4 CFD contracts were signed by early August 2022 so the MDD is imminent.
https://www.cfdallocationround.uk/sites/default/files/2021-10/Allocation%20Round%204%20online%20launch%20event.pdf
If I'm right then SAE won't have the money to spend to take route (a) so they will follow route (b) and we could see an announcement very soon on contracts for phase 2. i suppose they only need to tell LCCC and not the rest of us but this seems like important information that should be made public.
if a developer fails to meet this milestone then (from the link above) LCCC has the right to cancel the project, though they don't have to. It's possible LCCC would show leniency to an emerging technology. Offshore wind projects are struggling so there might be news about this in the next few days if developers walk away from their CFDs.
I stick to my assumption that, comparatively speaking, nobody is trading this stock. Whenever I see day traders in here it kinde feels like I'm staring at that one guy at the train station that is talking to himself.
This stock is flying under the radar. Not because it's a hidden gem but because it's a struggling company. Maybe, just maybe it will turn around but as for now.. nobody, and by that I mean high volume long term investors and not some pocket change traders (no offense), is looking at this stock.
It's just us long term holders who where something enough to not get out and a few daytraders.
Just to clarify: not complaining about day traders.. but I'm just pretty sure that there's just nit enough eyes ok this stock to really talk on that level.
Weird it looks terrible today yet online all I can get is 150k at 1.12p, no bigger amounts for say 1.18-1.2p just 150k at 1.12p
mm's playing their games, you can sell but we do not want you to pick up size at these levels but please sell at 1.02p
Sums up this market though, people are either chasing spikes or selling close to all time lows. 2 days ago this was NT to buy at 1.3p, I thought it was bound to pop, the market makers just sat there and refused to move and this is why they do that, people started selling miles below the offer price, to me this is fire-selling at 1p bid, smart people will be nibbling ahead of next spike, they always happen in this stock. To be honest I think all the selling in quiet ones is being caused by people to get funds to trade HE1...
At Munin.
Round 4 of the cfd?
Have I missed something?
Did it get to 1.8? I don't think we've been at 1.8 since December 2022. Highest I saw last week was 1.65. Look at the technical chart.
But I agree, this share does appear to drift down quickly following good news. Hopefully we'll see a step change in the next week or so following the milestone delivery date for round 4 of the CFD.
Rather low today considering we were at 1.8p a couple of weeks ago. An unwarranted drop in my opinion, but then it has a tendency to flicker between 1.1 to 1.7 with great regularity.
Trader???
Thanks. I think the price is oversold myself so took some more Friday. Sentiment certainly swings in this stock but buying at lows has always been profitable down at these levels the spikes are usually great at least 50% from lows
I like the discussion, however it is now about scaling up.
Having the finances in place for such an event (Mr black - will definitely be the link sorting this)
We move to lots more turbines and even more mws.
The issue is still..
The supply chain
Finances
Partners
Developers
Cash burn
Consents
And finally time.
I want more meat on the bones and so would any more future investors.
I'm an LTH, I am down but clawing it back a bit at a time.
If in the next 6-12 months we survive and things happen then we should see a slow increase in price but having been burnt, I am now realistic and very wary.
Next turbine in the water on time is the start of a timeline.
To achieve this the turbine needs to be in the water in the next 5 months (as per RNSs).
The BESS at Meygen?
More news about this required.
Is the funding coming from the finance requirement in 2025?
With regards to suppliers - must be Proteus and the incentive of owning a 1/5 of the shares in the company.
If they do well, so do we.
If they win more lucrative contract - win win.
I am hoping we have turned the corner but we shall see.
My mistake if it was an Andritz one that has been down there all that time. Thanks for clarification though. I stand by the bit about coming out preemptively and that we seem in ok shape.
Exactly what it says with a change in the Auditor.
Standard practice to renew auditors. Not good for transparency to have too close a relationship with your auditor.
SP is just market. Large UK renewables groups down by a proportionate amount. Was a lot of recent sentiment of certain rate cuts that is being tempered atm.
Can somebody explain what that Rns means ?
Seems cheap sub 1.2p to buy, was 1.5p not long ago
U forgot to add that Bess at Usk to over 1gb.
Of this potentially 0.5 GB could be for SAE = Revenue.
BESS at Meygen= Revenue
Great if Proteus are going to be the first port of call for “fabrication and assembly” of turbines from parts that have pretty well all been manufactured and tested elsewhere.
The Chairman’s statement in SAE’s latest Annual Report was dated 25.7.23 (that’s 6 months ago today). The paragraph on MeyGen Phase 2 is on page 4. It refers to the CfD secured in the AR4 allocation round for a further 28MW at MeyGen. Mr Black states, “…we have progressed development of the project including initial design and engineering work, negotiations with potential tidal turbine suppliers, and the appointment of a financial advisor to advise on securing debt and equity funding for the project.” It states that, “Financial close of the project is targeted for Q2 2025 and we will provide further updates as development progresses.”
Where’s the back of that envelope? Say MeyGen wants to go to 34MW by adding 2x2MW turbines and 8x3MW turbines. What’s the unit cost going to be for 10 assembled new turbines? Then, of course, there are the costs of new sub-sea hubs, the cabling, conversion, deployment, running, servicing etc. The post on 8.9.23 suggested the income from the original 6MW is probably some £2.6m/y. Add the income from the Phase 2 turbines (22MW at 50,100 MWh/y * £175/MWh ~ £8.8m/y from AR4) and MeyGen’s annual income would be £11.4m. Enough to pay off the cost of the 10 new turbines needed at the rate of what – about 1 every 18 months maybe over the 15 year period? So, the unit cost of each turbine has to be a whole lot less than £10m bearing in mind the other initial and running costs and the need for “equity” to make a return as well as debt interest and repayment.
Interestingly, the CfD strike price for the following phase is higher while the unit cost for a greater number of turbines should reduce due to economies of scale.
In the meantime, if you were Strand Hanson, what would your advice to MeyGen be about “securing debt and equity funding” always remembering that SAE’s existing debts are already secured by fixed and floating charges over its assets including its shareholding in MeyGen? Will SAE be able to command from MeyGen backers the kind of development premium payment it got from the Usk BESS developers but enough to cancel those charges? With how much of its shareholding in MeyGen will SAE be left after (private) “equity” has maybe taken the kind of slice it took for backing Proteus? What are the key drivers now for reducing LCOE for TSE sufficiently to make the sums add up in a way that would leave SAE with a reasonable return on a residual minority shareholding in MeyGen?