Member Info for noisyboy9

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

North Sea Giant leaving Nigg , back off to Norway now

I wrote to them 6 months ago.. Still waiting

Well there seems to be another ship in the way for the usual loading quay!

There is a Notice to Mariners out here

https://www.orkneyharbours.com/info/notices

Work planned on site from 16th - 21st Sep

Am keeping an eye on that ship, It's still in Norway at present but hopefully it will leave for Nigg soon!

https://documents.newport.gov.uk/PublicAccess_LIVE/SearchResult/RunThirdPartySearch?FileSystemId=PL&FOLDER1_REF=22/0823

Well the highways department don't see any issues, I think this should sail through planning.

Doubt it, They need to get the planning application into Newport Council first and then it could be a few months before permission is granted. Can’t see anything happening at Meygen in the immediate future on my usual website sources of information.

From Meygen Annual Accounts

The planned maintenance on one of the Andritz turbines is now complete and is expected to be redeployed in Q3-2022. The repairs on the second Andritz turbine have commenced, and that turbine will be deployed in Q1-2023 along with a retrofitted wet mate connection system. The wet mate connection system can reduce the costs of recovering and deploying turbines by more than 50%. Retrofitting the system on the two remaining Andritz turbines is a key objective.

Yes, Correct. I'm still confused what the North Sea Giant Vessel was doing on site in May for several days. It definitely didn't deploy the third turbine.

This is the output for two turbines on site, I wonder if they have modified it as this is the biggest MWh figure they have achieved with 2. With 3 turbines they should be able to do about 1100 - 1200 MWh

A long lag time again but Meygen Output figures for May were 776MwH or 3883 ROC Certificates, Interestingly this is the best output for the site since Oct 2020 before turbines were taken out of the water.

Doubt it, Hardly any of the board own any shares!

https://www.uskmouthenergystorage.com/views.html

The Pre-Submission comments were closed on 12th August so perhaps we can hope for the Formal planning permission to be submitted to Newport Council within the next month. The documentation seems fairly comprehensive already so perhaps just needs to be fine tuned.

Raz Blanchard as well

https://renewablesandchp.ofgem.gov.uk/Public/ReportViewer.aspx?ReportPath=/DatawarehouseReports/CertificatesExternalPublicDataWarehouse&ReportVisibility=1&ReportCategory=2

Uptick in generated Electricity in April with 2nd turbine installed - 3306 ROC or 661MWh

For calculation purposes each turbine seems to do about 0.375GWH per month at the moment. If they got all 4 back by FY 2023, Site should do about 18GWH per year

From Meygen annual report (you can find on companies house)
FY 2021 the site produced 4.6GWH for £1.62 Million, Operating expenses were £5.06M.

I reckon they could do about 7.5GWH in FY2022 taking into account the second turbine that was redeployed in March , If they managed to get the third one back underwater in Q4 then maybe 9 or 10 GWH

It's an expensive business, The Heavy lift ship required on it's own is probably about 7 days hire @ circa £50k a day

They only have 2 turbines operational at the moment, not 6
I am watching the monthly MW output figures but there is a lag in the data