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Dinoken, depends, it is probably (rightly) referring to the general hiatus in funding onshore wind (I think that's virtually stopped now), offshore wind is highly subsidised but is rapidly coming down in cost (by about 10-20% a year over the last few years), and even solar is rapidly reducing in price and they are reducing those subsidies over time. Tidal is new and developing and has only recently just had a ~£18m subsidy to build the next phase of its tidal lagoon, in March 2017 the next CFD renewable subsidies are up for tender and Meygen may get a part of this pie - difficult to comment on that though, however they are well backed by government, tech (Lockheed) and finance partners. I'd love to see the full 400MW turbine array completed, but it will take time and they do need to take babysteps to ensure the technology is sound and long lasting. No point putting a fleet of rusty metal at the bottom of the ocean for 8 months! http://www.4coffshore.com/windfarms/second-turbine-in-place-at-meygen-nid5208.html
Article in Daily Mail today about Green subsidies to be reduced in UK as existing contracts end. Mentions wind farms specifically, but no doubt will also affect wave and solar. This will save households £110 pa, and help steel industry compete against imports. How will this affect ARL ?
Good news indeed!
MarineTraffic confirms that the Olympic Ares is back at the project site! I'm going to take that to mean that all the testing/ any issues from turbine #1 have been resolved and won't be major issues. Full tidal stream ahead!
It looks very much like they are - ta for the alert to something tangible and positive. This is looking like exciting times for UK renewable energy all told.
ARL have just tweeted photos of another turbine going in at meygen, they are back on it then!
That fast? Try not to get carried away.
Isolated - I do like it when "public / private UK governments" claim it is of pivotal importance that one of my shares is successful! It will be a bit of a slog....but the infrastructure is there now, so I suppose figuring out the quirks of new technology and data capture is necessary, then in 5-10 years the price can go crazy.
Atlantis gets a mention in an article titled 'Taming the tide' in the 13.1.17 edition of the magazine.
Different report of same: https://renewables.seenews.com/news/eti-says-uk-should-focus-on-tidal-stream-in-marine-energy-554305# So nice to see a PPP make ARL a personal recommendation... "pivotal importance" that MeyGen is a success indeed!
Tidal lagoon: £1.3bn Swansea Bay project backed by review http://www.bbc.co.uk/news/uk-wales-38571240
...the latest RNS. BBC Wales; The Times; The Record etc. Just what Atlantis needs to attract more interest. Great company which is going places.
Um, wow, here we are waiting for a progress report on 1A and they hit us with another positive rns about something else! I liked the wording about it being a natural progression without taking away from the focus on Meygen, that is exactly what we need. And a big part about how many potential projects they have lined up. Almost back to where we were mid December, couple more days of positivity, then when 1A news hits we might get back up to year high levels. I can but hope!
By the by a bit - well a lot maybe - but it was interesting see the BBC 2 history programme Britain's Ancient Capital this week. It showed how Neolithic culture might have spread south from Orkney by building a whale bone and hide boat and paddling across to the mainland edging by Stroma. It was a perilous journey and the narrative made a huge deal out of the terrific tidal flows that rip through that stretch of water.
:-) BT
there will be nothing happening this week for sure as the weather forcast is very very bad for up north so would think it maybe next week (weather permitting ) they get properly back into the swing of things
Funding confirmation has moved finger off the sell button and wavering over buy. Surprised RNS made no mention of Meygen 1A. If 1A is progressing well, anything up to 60p is a buying opportunity ... Cannot make my mind up.
Yes but great to have this confirmation.
Ctw2014 - today's RNS proves you were right about funding. WIth european partners in Belgium and France, I cannot see this funding being pulled as result of Brexit negotiations. Looking good for Meygen IB.
Nice 20.3 million euro investment announcement towards Phase 1B. Really would like an update on 1A as to how the others are progressing as Twitter has been a bit quiet on that front, but I guess they would be starting back properly this week after xmas.
Now we know they are most definitely staying around for a bit (RNS).
Very much in agreement with you both! An expectation of difficulties along the way doesn't mean I am blase when they appear or seem to appear. An ex-colleague (true story) was asked at an interview to be a meteorologist what it was that kept a satellite in the air. He answered 'money'. It is the same here and my major concern. Brexit and the Euros, not to mention the up and coming CfD auction and whatever else is in store are, as you mention C.Eng, uncertainties everyone involved can do without. It's new, it's tech, and it's AIM. Add a smattering of political upheaval to affect medium term funding and our tame fairground ride turns into a hair-raising roller coaster. Great fun if you like that sort of thing and I do, though a little bit of news wouldn't go amiss.
C.eng, stop agreeing you are ruining my point! Unfortunately I do somewhat agree with what you said as well. I believe ARL are right product, right time, the important bit for me is whether they can pull it off and make it work (with the hurdles placed by landscape and government), I guess herein lies our punt, pull it off and we have got in relatively early and should do well out of it, but there isn't really a plan b, so fail and we lose! I believe this is the definition of a binary share. I have stepped in a bit earlier than I would normally, judgement clouded slightly by personal reasons, but not clouded too much to throw all caution to the wind (tide?), I have set up for a stake build, but only taken the first step in it. Wait with baited breath on announcements from 1A and the start of 1B, then re-evaluate in due course.
Hi Shaxe, IsolatedBod and ctw2014, thanks for responding and a happy new year to you (one and all). Picking up briefly on a comment from Shaxe about different thoughts being good: certainly, I agree with that (not the point, I appreciate 😊) and unwarranted ramping is no good for any board. I have several reservations about ARL currently, directly in respect of Meygen and because so much appears to ride on its success. Future funding, CfD uncertainty, Engineering challenges in the Pentland Firth to name a few. I see ARL as a very long term investment (which other than getting older by the day, is not objectionable) and I am watching the share price with interest, with a view to increasing a holding, on the inevitable drops along the way. ATB