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This from the BBC https://www.bbc.co.uk/news/live/uk-scotland-68918348 I am not sure if this will affect the funding of SOWEC as the Scottish Executive is one of the partners in SOWEC.
Hebridean9 ref 11.29 post On what factual basis is this based on. As I posted a few weeks back the total of loans to be used for investment and investment from SOWEC amounts to over £300m. Of this only as far as I am aware £92m will be loans based on an exchange rate of 0.80USD to the GBP. In addition there is support in getting renewables contracts which would bring in work.
I would observe that we do not know the basis on which Ministerial approval was given for a 100% guarantee fir the UKEF funding. In my opinion there must have been evidence that it would bring in jobs and contracts exceeding the amount of the loan.
Finance deal will be done when it's done. No way are we waiting until September for it though. Clearly we all thought it would be here by now and are wrong on the timing, but September is another 4 and a bit months away. I am expecting it is still imminent.
Keep your short on and be ready to lose your shirt
Interest rate paid to Riverstone is SOFR 5.3% + 9% = 14.3% + the extra 1% extension = around 15.3%... which is too expensive over the long-term. A refinance package backed by UKEF I estimate would probably reduce the rate to around 7-8% which would be massive saving. Anything lower than that would be a bonus.
Topped up again. Falkland deal hoping to go through soon hopefully. That would be significant boost to the pipeline. Finance deal will take a bit of time, I expect in h2 before September, that's when they would need to pay Riverstone another 1% to extend for another 6 months (0.5%, 1%,1% per 6 months of extension) before the deadline March 2025. Therefore a race to get the deal done at least by then. They will have to start exploring other options if not done by end of year.
Don't be so sure, first there was Carillion, now Petrofac, HARL with no finance deal will be next.
This from Cruise Industry News explains the recent departure and return https://cruiseindustrynews.com/cruise-news/2024/04/margaritaville-at-sea-islander-completes-sea-trials/ Looks like the refurbishment work to the systems were successful which should hep in getting more cruise refit work.
Https://www.heraldscotland.com/news/24284050.six-ferries-one-weekend-calmac-calamity-deepens/
IM >>> finance announcement. In that order.
Fwiw, I doubt that H&W will want to publish the 2023 results before revealing the ‘new’ finance package, as I expect these to be quite ugly figures.
So the latest I anticipate the finance deal to be announced is third week in June.
Regarding IM, three months will have expired, shortly, since the review. I’m expecting their findings in the second or third week in May.
Yeah agree on IM this month but next month a possibility Stokey
Bubble2021 ref 10.24 post I know about those things but there is no reason to believe that either will happen soon. In fact judging by the updates from Chrisatrdg about the judgement in IM I am not sure that we would hear anything this month.
Stokey, a thought you would realise that
Funding news and IM court appeal to start with
Trish63 ref 09.02 post this is based on what?
It's a good job John Wood came out and stated that there are no mechanical problems or the original poster's flippant, speculative post could have highlighted issues that the H&W would probably not want to air on a public forum.
This will be happening any day now!
JW has put a couple of posts on the Scilly fb page responding pretty much as his message to me last night - Thinks a June start is possible but clearly a lot still to draw together
Here’s to a good week all!!
Kaeren, yes indeed well spotted
LSEO3 you thinking there’s a link to IM caverns here ?
Villa vie can apply and use the funds to pay Harl .. could have applied , who knows.
Https://www.innovationnewsnetwork.com/hydrogen-powered-vehicles-a-fast-emerging-market/15964/
CK Infrastructure Holdings, a shareholder in gas and electricity businesses run by Li’s eldest son Victor, invested recently in the hydrogen private equity fund HYCAP, according to a statement from the Hong Kong-based company sent to Bloomberg News.
Earlier this year, the investment firm of the senior Li, 93, bought stakes in Syzygy Plasmonics and H2Pro, two producers of the gas, as well as a start-up for powering airplanes with it.
Renewable hydrogen is becoming an increasingly popular energy option as more nations and businesses seek to cut carbon emissions.
The market for it in the utilities industry could be worth about US$12 trillion by 2050, according to research from Goldman Sachs Group last year.
“We are of the view that hydrogen will be of significant importance in decarbonising energy and transport systems,” Andrew Hunter, CK Infrastructure’s deputy managing director.’’