RE: clarify28 Nov 2014 09:41
Ok, why im not concerned..Today 09:10Funding for current 15MW in not related, this will be supplying energy and revenue very soon.
The £1,050,000m raised was the funding for the next 4 118MW wind projects (all to be completed and online by end 2015) and funding linked to those next 4 projects and not from the working capital, in the first half they had the IPO, acquisition and capital costs which they settled in the first half current assets. They have current assets at 2.1m, current liabilities 1.8m (they also have US3.2m investments in associates on their balance sheet).
Now poised for growth from Chile, Pakistan (MOU) and the UK through wind and solar energy especially now following the acquisition of established UK solar company Beco Solar in June.
Second half ‘we are expecting growth from each of the 3 divisions’ (Chairman)
Once the Reki project is supplying energy online on the frist 15MW project and then onto the next 4 projects for completion totalling 118MW in 2015 with £1.05m funding secured to accelerate DD under the Santander framework.