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The news that BP (along with German partner) are preferred bidder for the huge wind farm auction in the Irish sea, has made my old investment banker radar twitch. BP have stated their ambition to reposition themselves in the zero carbon power generation market. This windfarm is off the UK coast, nicely positioned opposite Belfast. It will require very significant investment in infrastructure, both fixed and floating. This is where Infrastrata have positioned themselves.
In my mind, it would make sense for a company committed to green energy that Hydrogen production and storage would also be an ambition. What better than an off the shelf investment in a company with exactly that type of asset (subject to the ML) again, exactly where Infrastrata is positioned.
Additionally, if BP goes ahead, it makes the investment by Triumph Subsea Services, as announced via the LOI 10th Dec, more logical and likely. What a huge difference that would make to the company.
Lottie123 In relation to your 07.06 post the other possibility is that BP will contract INFA to do all the fabrication work. With H&W being close by it would make sense as the subsea platforms would not need to go far. In addition with the new equipment INFA may be able to shorten the time to fabricate the parts.
Some excellent joining of the dots this morning.
Perhaps we can set up our very own strategy department - non-exec of course!
You may remember that BP was an investor in this project a few years ago but pulled out as they were losing bags of money in their established storage portfolio in Europe; haven’t times changed though.
Provided we get the ML I’m a firm believer there could be considerable competition from the large utility players, oil and gas companies and trading houses both for equity and capacity in the project.
Fingers crossed the regulator and the government make the correct decision as this project could be the cornerstone of big environmental infrastructure investments in this part of the world.
Remember Sirius and Anglo American?
Bluey2
Thanks Lottie123 for highlighting this. I hadn't appreciated the scale of it.
https://www.theguardian.com/business/2021/feb/08/queens-treasury-windfarm-bp-offshore-seabed-rights
LSE03 In relation to your 16.19 post I found the Guardian article an interesting read. INFA is well positioned due to the facilities it has available to pick up a fair portion of the fabrication contracts. Here is hoping.