PG and E25 May 2019 19:41
Thanks guys for bringing info about PG and E personally I had no idea about their involvement with phoniex.
The operational update makes sense now.
Phoenix Energy
Further to the announcement of 15 January 2019, the engineering design work for the first of Phoenix Energy's two planned power plants, utilising the Company's EGT technology, has been successfully delivered and invoiced. Phoenix Energy is awaiting the final granting of permits for the project, which have been delayed largely as a result of forest fires experienced in California in the Autumn of 2018. Construction, commissioning and installation at the project is expected to begin immediately once the permit process has been completed.
Greg Stangl, Chief Executive Officer of Phoenix Energy, commented:
"Phoenix Energy values the relationship with its partner, EQTEC, and is grateful for the continuing support as we take the projects forward. We are also looking at other project opportunities as we develop our working relationship in the US market. We fully expect these projects to proceed despite the delay with securing the necessary authorisations, partly as a result of the forest fires in Autumn 2018."
It's a shame they didnt directly say the issue was with PG and E.
When I read result of forest fires i thought it was a terrible excuse.
From a bit if research it looks like the court will decide on the renewable energy contracts.
https://seekingalpha.com/news/3458877-pg-and-e-unable-reach-deal-power-contracts-worth-billions-dollars