Geotherm Energy31 Mar 2022 13:46
History:
Cindrigo has focused on Waste to Energy with a focus on Eastern Europe and start in Ukraine, the need to take care of waste in these countries is enormous and that was one of the reasons why Cindrigo chose to invest in Ukraine. Unfortunately, there were two major setbacks in recent years, which were Covid and the invasion of Ukraine, hence there were delays in the stock market process and when Russia invaded Ukraine, Cindrigo stopped this process.
Present:
If we look at the turn that Cindrigo has made recently from being completely dependent on Ukraine, it has gone fantastically fast and the board / management has worked very well and efficiently, which is important when running a business, Cindrigo has had as ambition to broaden its energy portfolio a few years ago and it was the right decision. Now Cindrigo is equipped for the future with agreements on Geothermal heating projects in Europe, Ukraine will remain as a future project until it becomes stable in the country. The management has come so far that an update of the prospectus is submitted next week / week thereafter to the FCA, if all goes well, I think we can be on the stock exchange within 6-8 weeks, absolutely before the holiday.
Cindrigo has already finished with major agreements and it looks like below, normal construction time for a power plant of 20 MW is 12 months until cash flow.
Clear agreement of 60 MW
• 60 MW ready with land, boreholes are available, state price guarantee gives in profit before tax 36 MGBP per year. (Depends on the ownership distribution in the power plant).
- These first 60 MW will probably be built faster than 12 months because there are already boreholes.
Upcoming agreements in 2022
• 200 MW within 12 months.
Upcoming agreements before 2025
• 400 MW within 36 months.
Upcoming agreements before 2030
• 1000 MW within 8 years.
https://finance.yahoo.com/news/3-renewable-energy-stocks-buy-203720203.html?guccounter=1
https://finance.yahoo.com/news/3-renewable-energy-stocks-buy-203720203.html?guccounter=1