George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
The future of this company depends on whether the BODs can get the finance for gas....plain and simple. Pivotal as Mr. Tatnall put it.
Yes, £360K for 3 sites (2019) and £450K for the other three (2020). Attune got £1.2m revenue from TRIAD alone last year and then take out costs and taxes made £440K profit. STOR and FFR will not be able to match TRIAD's revenue capabilities so there is a big doubt about the 6 remaining sites even with the juicy contracts after the loss of TRIAD. I’ve not seen forward projections for the diesel sites using STOR & FFR as I've previous said. The BOD have produced projections for gas, if they have nothing to hide then they should produce some for the diesel sites as well.
You are right, TRIAD is not the only revenue source but the doubt remains whether the diesel plants can operate at a profit using STOR and FFR revenue streams coupled with the lack of a juicy CM contract. I think that is why the 3 remaining diesel sites will not get built. I’ve not seen forward projections for the diesel sites using STOR & FFR so it remains to be seen whether they will be profitable or not.
Expect an update about the end of August or in September. Historically, that is when the full year's results have been RNSd.
Dunno how happy they are but they had circa 33m shares in PPG in August 2017. They publish their annual report in August this year so you'll be able to see if they have reduced their holding or not then.
Ultimately the lack of news about anything concerning PPG is worrying. No news on funding and no info about the build status of the 3 remaining Rockpool sites, you could see why people might want to take their profits and look elsewhere. Only a select few may know the truths about the company's radio silence but those not in the know are very jumpy right now.
But it is a leap of faith at the moment that PPG can actually fund the majority stake of the SPVs, regardless of other partners. I see no evidence that the Frankfurt �50m bond as actually been launched. So how are PPG going to raise the money if not via this bond ? equity raise ? Final Results RNS ------------------------ As a complement to our green diesel projects, the group is now diversifying into gas fuelled power generation and battery powered energy storage projects, which may also be used in conjunction with SolarFlex and gas-powered generation sites. The management team has been working to develop and progress a pipeline of gas powered sites in which we intend to hold majority stakes of typically 80% but may also be joint ventures. We retain complete flexibility in financing projects going forward but aim to ensure that all future gas sites operated via new companies, typically holding 20MW each as before, are able to be consolidated in our accounts. With this in mind, we recently launched a �50 million bond advised by Bedford Row Capital, to be listed in Frankfurt, that is about to be marketed to investors. The bond is to fund the 'equity' portion of each site; each site has a typical capacity of 20MW, is held in a special purpose vehicle, and will normally have 20-40% of equity, with the balance funded with asset or project finance.
PPG owns 45% of the Rockpool assets and then the balance sheet is negative to the tune of �8m. So I reckon market cap is about right at the mo. Funding is key but I�m worried that the Frankfurt �50m bond is not listed as yet. The bond will form the equity potion of the gas sites but without that PPG cannot own the majority share of the SPVs
PPG owns 45% of the Rockpool assets and then the balance sheet is negative to the tune of �8m. So I reckon market cap is about right at the mo. Funding is key but I�m worried that the Frankfurt �50m bond is not listed as yet. The bond will form the equity potion of the gas sites but without that PPG cannot own the majority share of the SPVs
The ambition is to build 10 gas sites which will cost circa �125-140m. Awaiting news of the �50m bond and our big six company will fund 20% of future projects. I guess to make up the rest is still under negotiation and taking the time to raise.
Funding required for 20 sites is �250m. There will be no news which gets close to that figure. Expecting 3-6 gas sites by end of 2019 and the funding announcements to match that ambition.
Got it from the 2017 Annual Report and divided the number with the amount of shares in PPG. http://chelvertonam.com/wp-content/uploads/2017/11/CGT-Annual-Report-2017.pdf
They own 4.68% of PPG as of Aug 2017.
Not sure the SP rise will come, there is a seller around weighing the SP down.
No relation but I am half taff...my Dad was Bangor, North Wales.
The generators run on bio-diesel. The biofuel is made from waste or end of life oils which are processed into a synthetic mineral diesel. It burns quickly, has low emissions and is smokeless.
Don't forget about the retained losses on the balance sheet, > �7m.
Yes done that and waiting for a reply from Rockpool
Hi Weazel, is anything in black and white about Plymouth (Attune Energy) making in the region of £1 million ?
I made the same mistake, FCell. See this reply from Savvy. I haven't got time for a long reply right now but you haven't understood the structure of Plutus. Each of the Rockpool funded sites are separate companies - spvs (special purpose vehicles). As such their income is by law not allowed to appear on the bottom line of Plutus' accounts. Plymouth earned about £1 million last winter and it is expected that each site will earn roughly that this winter, so £6 million. Each site pays Plutus a management fee of £150,000 which equates to £1.35 million for the year. This is what appears in the accounts. This was always known so nobody should be surprised by the figures. This is how you should view the Rockpool sites - from the RNS ; came online in November 2016. By the end of 2017 we will have 120MW of operational capacity, and the remaining three sites already have secured planning permission. Rockpool has indicated that they will realise their investment in the nine flexgen sites when the EIS qualification period expires. This will give us the opportunity to make an offer for the shares we do not own or sell our shares in each site alongside Rockpool