RE: Uskmouth BESS5 Dec 2022 16:02
M_T - I'd say the most obvious answer to the question "and for what?" from your point 'So a second spoon of peanuts. Raz Blanchard has a theoretical capacity in the Gigawatts and SAE is now going to see 21% of the profits instead of 100% - and for what?' is, "Nothing", as in, no financing requirement, no capital raise, no further dilution, no more debt etc.... to fund the further development of their turbine business but 21% of the profitable revenue. As for Proteus one day looking to compete in CfD rounds against SAE - that is possible (I use the word in a very loose sense) but why would they need to when Meygen already has the capacity for the greatest expansion, is already licenced, infrastructured, operational and proven - imo of course
As I have stated many times on here over the years, it was the Uskmouth project that got me into SAE, the Tidal business was a secondary interest but one that obviously had it's merits. Yes, millions of £ has been spent on the IP of their tidal turbines but they were the front runners in this industry for quite some time and that money was needed to get them to where they got to today. A plethora of new companies have since come to market and with that, new technologies, idea and a multitude of financing options that have the potential to not only over shadow SAE but leave them in the proverbial dust trail as this market builds towards realising its true potential. I do think that if the Uskmouth project had gone to plan then they may not have been as quick to sell ATES but they needed to conserve cash and limit cash flow out of their coffers to stay afloat. I now see this as an overall 'positive, in the sense that they have a licenced tidal site with the infrastructure and licence to add hundreds more turbines and reap the revenue streams that go with it, without having to add any significant risk in terms of financing it
OHS
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