George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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.
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 👍
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.
Interesting view from potential investor ofGetech Melo presentation.
https://www.linkedin.com/feed/update/urn:li:activity:7138144420444401664
Mister Tidal it depends on which Route SAE take the initial contract with Quinbrook was £40m over 30 years for 230mw.
https://www.lse.co.uk/rns/SAE/sae-achieves-milestone-in-bess-project-delivery-bn5pkfgzvj1hrt3.html
No Mister Tidal they have already had £10m they will get another £9.8m in staged payments over next 18 months. That is just for phase 1
The other planned Bess project contracts of approximately 750mw have yet to be announced .Maybe they have sold it too cheap but without the sale SAE s prospects would have been somewhat limited.
Evening Mister Tidal all they have sold is the 1st 230mw.The total planed for Uskmouth is 1GW for that they have received-pre payment of £10m and now sold the lease for the future payments from Quinbrook for the 230mw (only )for £9.8m.
Hope that helps
Just as a recap the lease was for 230mw worth £40m over 30 years with £10m upfront however they mentioned monetizing the lease.
The new planning granted is for 120mw with no value mentioned yet.
That leaves another 200mw planning application which is currently processing.
It would appear the BESS expansion at Uskmouth plans have been approved.
https://documents.newport.gov.uk/PublicAccess_LIVE/Document/ViewDocument?id=D2F68A2955C94FB69A1EEE68C8C9CE2B
I must admit that normally I would be concerned about Abundance ceasing trading of the debentures however in this case the fact that on 27 September 2023, Duncan Black, Chairman, purchased 3,600,000 ordinary shares in the company the outcome could very well be positive for the company.?
You can read about the SAE debentures here
https://assets.abundanceinvestment.com/docs/projects/factsheets/2018_09_01_AtlantisFutureEnergy_Factsheet.pdf
The biggest news for SAE and investors is surely the speeding up of grid connections from years to months which will have a big effect on further BESS projects at Uskmouth and Meygen
https://www.gov.uk/government/news/huge-boost-for-uk-green-industries-with-960-million-government-investment-and-major-reform-of-power-network
Question
Thank you, Madam Deputy Speaker. The Chancellor announced £960 million for a new green industries growth accelerator focused on offshore wind; electricity networks; nuclear; carbon capture, usage and storage; and hydrogen. But there was no mention of reliable, clean, cheaper energy sources such as tidal or pump storage hydro. Why not?
Answer Jeremy Hunt
We are always open to investing in new technologies, and in this country we are extremely good at developing them. We will continue to look at all new opportunities, including things like tidal.
https://www.theyworkforyou.com/debates/?id=2023-11-22a.357.1
5400 license contract for EXR 👍
https://www.linkedin.com/feed/update/urn:li:activity:7132916836215463936
A Review of Technical Assumptions and Generation Costs of Electricity from Tidal Stream Energy report has been published today for Department for Energy Security & Net Zero
Lots of mentions of Meygen and SAE
https://assets.publishing.service.gov.uk/media/655372484ac0e1001277d819/tidal-lcoe-report.pdf
Tidal also gets an increase in round 6
The government is also increasing maximum bid prices for other technologies, offering certainty for developers, and keeping the UK at the cutting edge of all renewables. These include:
geothermal by 32% - from £119/MWh to £157/MWh
solar by 30% - from £47/MWh to £61/MWh
tidal by 29% - from £202/MWh to £261/MWh3
https://www.gov.uk/government/news/boost-for-offshore-wind-as-government-raises-maximum-prices-in-renewable-energy-auction
Tidal gets a mention in parliament
Q/
To ask the Secretary of State for Energy Security and Net Zero, if she will make an assessment of the potential merits of (a) maintaining a ringfence for tidal stream renewable energy technologies in allocation round six of the Contracts for Difference scheme and (b) setting a target of 1GW for tidal stream technologies by 2035.
Graham Stuart
Minister of State (Department for Energy Security and Net Zero)
A/
The Government is currently developing auction parameters for Allocation Round 6 of the Contracts for Difference scheme, including any for tidal stream, taking into account evidence of the pipeline of available projects. The Government will publish core parameters for the round later this month, and final parameters, including the budget, ahead of the round opening in March 2024.The Government will review the merits of setting an ambition for tidal stream deployment.
https://www.theyworkforyou.com/wrans/?id=2023-11-07.194.h