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I'm with you on this.
I don't know if a positive outcome on the 22nd is going to do a lot for the share price in the short term, but it'll allow SAE to deliver in the next 2 years which should allow for a recovery. Debt is still their biggest enemy for the time being but if things go well, and it looks like they will this time, SAE should get it under control.
We know that SAE is going to require £100m or more for the next MeyGen phase. The CfD should be a security for their creditors so it shouldn't be a problem to get that money given SAE is able to manage the existing debt as well. This is where BESS comes in. Am I starting to see the bigger picture here?
I have been critical for the right reasons with SAE for a while.
But if 22nd goes through.
Bess details at Meygen communicated.
Turbine back in the water.
More info about Bess at Usk
And more info regarding Proteus 3mw turbines for Meygen coupled with more government backing and other improvements...
Then maybe just maybe we have some light at the end of the tunnel and it could be the pivotal turning point.
Unexpected from me I know...
But who knows.
Fingers crossed
As long as I seen +100% spread in Stuttgart, Baader Bank and gettex I can't say that these small trades really affect me.
The irony: my deposit used to be on the London exchange but I decided to transfer it all s.t. I don't have to switch between Flatex and Comdirect.
Some nice buys
I am aware of that. Still good news both for beyond the first 80MW of Meygen, and BESS helping Phase 1 avoid the nasty surprises plaguing connection on UK renewable generation. Support from two bits of government policy is better than one.
Hi Mehmett
Grid connection has been secured .
From page 1
“ It will have a connection to the National Grid at the recently consented SSE Gills Bay switching station”
Also the grid connection for the next phase of turbines has also been secured for 2026 but could be sooner as national grid have been told to lower the waiting times significantly.
That's good news about no EIA. They've made some noise over the years that the Meygen substation is the only onshore impact on the landscape, so I had wondered if a whole BESS might be problematic. Also wouldn't be surprised if the existence of the BESS and extra capacity helps National Grid focus minds on any necessary grid upgrades needing expansion for Meygen. Government starting to give priority to BESS and storage would also mean the project benefits from exposure to that angle, as well as tidal support.
Anyway it is very healthy to see this taking definite steps. Seemed a year ago like it was just a nice idea that might happen.
Thanks OT 👍
Details on Meygen BESS project
https://wam.highland.gov.uk/wam/applicationDetails.do?activeTab=documents&keyVal=RWWYKAIH0JG00
Worth downloading supporting information from June lots of details in it .
Also good to note no EIA required 👍
I would presume from a logistics and testing and data analysis perspective it would make good business sense to install it at the MYGEN project. How nice would it be for the upgrade to be the 4th turbine that needs to be put in place 1st quarter of 24
Hi justdave
Not sure which project will be 1st however Meygen does have all the infrastructure in place ie offshore cables and hubs plus the onshore substation.
Hope that helps
Do you think Proteus will install the AR3000 in Le raz blanchard first as a like a development or demo before mass production for Mygen? Or vice versa? I'd like to think Mygen gets scaled up first with the latest model.
Proteus has developed the largest and most powerful ever produced and the most efficient in commercial operation in its class, the new AR3000 turbine.
Normandie Hydroliennes will deploy the new Proeteus AR3000 for their project NH1 in le Raz Blanchard.
Hi justdave
Proteus are the main partner in Normandie Hydroliennes.
https://normandiehydroliennes.fr/en/our-team/
Good to see the Raz Blanchard project progressing as you are probably aware as part of the sale of tidal division SAE gained 21% of Proteus and also due a final payment of £500k on financial close on Raz Blanchard.
I believe Proteus is the company now or still involved and with links to Normandie hydroliennes over the water? Signs of progress I guess.
https://www.offshore-energy.biz/abl-marks-tidal-power-exclusion-zone-offshore-france/
Wish we had a market cap estimate for the company assuming BESS and the 50MW deployment. They are between a rock and a hard place. They'll need money while already having significant debt. Yet, Duncan is not afraid of dilution or anything it would seem.
Who are you Duncan? What did you see?
Continuing to be a "wait and see" at SAE.
22md is either the end of the start whichever way you look at it.
If vote goes through then I see an long-term.uoward trend.
A no vote.
Goodbye.
Some interesting buys over last couple of weeks...
A little wishful thinking doesn't hurt.
I am getting the feeling that its the calm before the storm. The fact that Duncan Stuart bought around £50k worth of stock certainly fully aware that SAE might go belly up next week keeps me busy.
Is this just a bet he's taking? Or is he just very confident that all will be well? If so, why did nobody else scoop up some additional shares for good measure?
Guess we'll just have to wait until 22nd.
Seeing somebody buying more than double the shares I own for basically half the money is still hard to digest though.
I too see this as the crossroads.
Hopefully it is passed and then the path is clear for the projects and getting things across the line.
Meygen BESS will be a lifesaver linking to turbines.
The Bess projects up to 1gw will upon completion provide the company with some liquidity.
I think Abundance extension will easily pass, particularly when framed as interest gets paid regularly as now with increasing rate and scheduled capital repayments vs being in default
It seems to me that more has happened in the last 6 months than the last 2 years. I'm in a positive mood. 🍀🍀