The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
http://137.221.2.131:8888/meygen.cfm?key=ksef8lLUHF*US%3ELKJSsdas8&inst=0&day
Conditions data from Turbine 1A
Usual lag in figures but the Meygen site produced 3798 ROC and 760MWh in August.
Was also just having a look at Newport Planning Portal, Looks as if the BESS is pretty nearly over the line judging by the documentation and comments from NRW, Ecology and Utilities
https://www.orkneyharbours.com/info/notices/meygen-array-inner-sound-pentland-firth
I wouldn't get too excited , I think contractually they have to carry out an annual survey of the site!
For Meygen in FY 2022 I'm pencilling in 8.5GWH based on data from H1 and Third turbine going online now , If they get the fourth in the Water by April 2023 it should be around 15GWH in 2023. Would be interested to know in the estimated revenue on that in FY 22 and FY 23?
ORIGINAL PROJECT BUDGETS
The total capital budget agreed at financial close in October 2014 for Phase 1A was £51.3m and the operating budget was c. £1.4m/year. Table 1 shows the split of the capital cost across a number of cost centres and similarly Table 2 shows the split of the operating budget.
CAPEX COST CENTRE
PROPORTION OF TOTAL
Project initiation and management. 7%
Insurance. 2%
Onshore infrastructure and grid 19%
Offshore works 13%
Cabling (including horizontal directional drilling) 9%
Substructures 11%
Turbines 39%
TOTAL
100%
Is it me or is there a glaring typo? Shouldn’t that second paragraph read 2022?
SAE announces its unaudited Interim Results for the six months ended 30 June 2022. A complete version of the results can be found on the Company website (www.simecatlantis.com/investor-relations/company-documents).
Summary of Results
The overall loss before tax of GBP8.6 million for the six months ended 30 June 2021 compares to a loss of GBP10.7 million reported for the same period in 2021
Good Post @Renewable_Expert, From the figures I can find, with the third turbine up and running the site should be able to produce around 1050MWh per month now (Each turbine seems to be doing around 350MWH per month) increasing to 1400MWH per month with the fourth turbine next year. This should be a stable revenue stream although it's hard to put a figure on it as any useful Financial detail is over a year old.
I would say the next Catalyst would be the approval from Newport Council for the battery site. I can see this coming quite quickly as from the documents on the planning Portal no departments seem to be in objection (Water, Fire Brigade, Highways, Waste, Network Rail)
After that I don't know but possible moves could be :
a) Possible news from Raz Blanchard in Alderney
b) Possible Turbine orders from Japan?
c) Possible Coal Pellets Sale
d) Possible further developments in Newport
e) Repayment of Abundance Interest/ Loans