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Less focus & less time needed on other projects of theirs, Stranger, Papillion and Fandango and more focus on delivering funding for PPG please
2 years and 4 months since PPG started talking about funding for gas sites and battery storage. How much longer can this possibly take. Surely it must be in the bag
RNS 21 November 2016
Plutus PowerGen plc, is pleased to announce that it has received an offer by a leading Big Six multinational utility company to fund up to 20% of any 20MW renewable fuel or gas powered flexible energy projects going forward.
RNS 21 December 2017
The Company continues to focus on increasing its pipeline and to this end a further six gas sites totalling 120MW are in the planning process, it is envisaged that this figure will significantly increase during H1 2018.
as powered flexible energy projects going forward fits ideally with the Company's strategy to deliver projects in which it holds an 80% interest, and this relationship is envisaged to provide sufficient equity to allow PPG to develop majority owned assets while maintaining its policy of limiting dilution to shareholders as far as possible. It also gives us additional flexibility in funding our various project types going forward including Gas, SolarFlex and Battery Power Storage.
Objectives and strategy: g
Our most significant strategic shift is our decision to diversify into gas powered engines. We started this process in the new year, and now have 80MW of projects in planning and a further 120MW in the pre-planning stage. This means that we are aiming for around 200MW of gas-fired generation over the next two to three years, and we continue develop our overall pipeline of 700MW further.
Interim Results RNS January 2018:
The Company continues to focus on increasing its pipeline and to this end a further six gas sites totalling 120MW are now in the planning process; it is envisaged that this figure will significantly increase during 2018. Plutus is also in advanced discussions regarding the purchase of further sites with existing planning permission that could be fast-tracked to commissioning. The majority of the gas sites in the current pipeline are expected to be constructed in 2018 and 2019.
RNS January 2018:
Charles Tatnall, Executive Chairman of PPG, said. We are also making progress with the development of approximately 200MW of gas-fired FlexGen projects and I look forward to updating the market accordingly.
Interim results RNS January 2018:
2018 is expected to be a pivotal year in the development of Plutus with our move into gas powered, energy storage and hybrid generation sites.
120MW now in operation with a further 60MW targeted for 2018 excluding gas sites
Expansion into energy storage projects with London and Devonshire Trust
Strengthened gas site pipeline with development partners
21 November 2018
The Company has a pipeline of other gas sites, potentially more than 300MW in aggregate, which it intends to develop with a majority interest.
Plutus' acting CEO James Longley said, "We are delighted to be advancing our strategy to move into the construction of higher-margin gas-powered FlexGen sites with our first project in Kent soon to commence development. We have an historical relationship with Rockpool that has successfully developed multiple sites across the UK and we look forward to continuing this as we develop Medway. Furthermore, discussions are continuing to secure funding for additional majority owned gas sites across the UK and we look forward to updating the market on our
So this is how long we have been waiting on gas sites, battery storage sites and the funding of
RNS 21 November 2016
Plutus PowerGen plc, is pleased to announce that it has received an offer by a leading Big Six multinational utility company to fund up to 20% of any 20MW renewable fuel or gas powered flexible energy projects going forward.
RNS 21 December 2017
The Company continues to focus on increasing its pipeline and to this end a further six gas sites totalling 120MW are in the planning process, it is envisaged that this figure will significantly increase during H1 2018.
RNS 19 January 2017
Targeting at least 120 MW to be operational and an additional 120 MW post planning by the end of 2017, including new initiative with gas fuelled plants
Post-period end, indicative partnership agreed with Big Six utility company to fund 20% of future renewable fuel and gas powered projects
Total pipeline (including FlexGen and Gas) remains at over 700MW
Gas sites being sought - several under review and two in the planning process
May RNS 2017
Battery storage Joint Venture AUG 2017. During the period under review, the Company also signed a cooperation agreement with land and property developer, London & Devonshire Trust Ltd ('LDT'), to identify and develop energy storage projects in the UK. Under the terms of the agreement, LDT and Plutus will incorporate a special purpose vehicle for the development of an initial 85MW of energy storage project.
RNS 14 September 2017
Strategic shift to the development of higher margin gas operations - 80MW in planning
Post year end joint venture agreed to develop battery storage sites
Strong pipeline of future gas and battery sites expected to significantly increase revenue and profitability
Key areas of focus:
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 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
Strategy:
In addition to our planned focus on installing gas engine capacity, we are looking at the use of power storage, i.e. batteries or capacitor technologies, in conjunction with our gas sites, which will open up FFR markets and other fast response tariffs to gas. Our strategy with respect to the green diesel sites is - alongside Rockpool - to either sell these after the end of the EIS qualification period or to make an offer for the 55.5% we do not already own. Our relationship with a leading Big Six multinational utility company to fund up to 20% of any 20MW renewable fuel or
CM is not going to be sorted any time soon. April time has been mooted as the earliest but I wouldn’t bank on it. I expect at least another 4 to 6 months will have gone by before its sorted. These things always take longer than expected We may see funding in place for a couple of gas sites soon but on the grand scheme of 200MW funding, I suspect we are still some time off. To achieve this funding (debt & equity) we/Rockpool will have to have sold the Rockpool sites, so enabling PPG to use that money to negotiate the best terms it can In each gas site. These deals / funding won’t / can’t happen until the CM is sorted, so I fear it’s going to be a long old wait, possibly even a world record in the making (a wait of two years or more for funding to be in place) I suspect our holdings in these SPVs will be in the region of 50% to 51% not the 80% once eluded to in past RNSs Anyone have any views on this
The gas sites have been financially remodelled with out CM and I believe they still deliver a very handsome return. So CM has no baring on the funding process of the forthcoming gas sites. Funding is just around the corner and when it comes watch what happens to the share price. Now is the time to get in when everyone else has panicked
So that would mean a dead duck of a company and would be heading towards be wound up after the sale of the Rockpool sites.
Who would like to bet on funding before or after Brexit?
So nothing of substance in the interims
Still talking about progressing the funding talks. Must be going for a world record, that's 18 months of discussions with no clear understanding if they are near or still another 18 months off from receiving funding
Its all talk, we have heard it all before.
We need action, not the same statement that we have had for the last year or so
"progressing talks with regard to achieving a suite of equity and debt for its planned "gas peaker" portfolio, we look forward to being able to update the market with progress thereon"
We need details on where they are with the funding process
So nearly 18 months later and we still have heard nothing on funding / gas sites. Come on get your act together PPG management
PPG's current focus is on completion of the roll out of the nine 180MW of renewable green diesel FlexGen sites with Rockpool Investments LLP ('Rockpool') and the development of approximately 200MW of gas-fired FlexGen projects across the UK. The Company currently has one site in operation with five due to be commissioned by the end of 2017 and submitted planning applications for the construction of another four gas fired sites.
Each FlexGen site can be switched on at a moment's notice at times of peak demand and help to mitigate the current and forecast risk of an energy deficit. Due to the inherent demand in the UK, PPG has developed a pipeline of projects with capacity for over 700MW and is targeting 120MW to be operational with an additional 120MW at the post-planning stage by the end of 2017.
PPG Chairman Charles Tatnall said, "The granting of a further two sites underlines the excellent progress we are making in delivering our commercial objectives in the provision of FlexGen power facilities across the UK. We have nine sites being advanced with funding partner Rockpool, and with five more close to being in operation, we expect a significant transformation in what is already a profitable business. With the roll out of the gas sites, in which we will maintain a larger percentage of than the green diesel sites, plus our recent expansion into the emerging battery energy storage arena we are extremely excited about the Company's future and its role in the UK energy matrix."
My predictions last year were pretty much spot on re PPG, so I am pretty confident that my last post is on the mark. So fill your boots time & thank me later
My deduction is, good news is just around the corner. So anyone seeing the potential here or has spare cash and is already invested, this is the time to jump in, as I doubt we will ever see prices like this again
Not sure, but I have been led to believe they hold a sizable chunk, though happy to be wrong
Will see if I can find out
How do you think this is going to play out for PPG with Chelverton being such a big shareholder?
This is with out doubt one of the worst managed opportunities I have ever come across.
So many times I have seen a great product coupled with an inexperienced management team, destroy an opportunity. On the other hand I have seen a mediocre product and an experienced management team, build a hugely successful business…..sadly we have a bad management team who over promise and under deliver.
You’ve only got three people in the company, two of which have no background or track record in this sector.
We have an interim CEO with no sector experience at all.
Two directors work only part time at PPG, as they have three other AIM listings that they are involved in, FHP, STHP & PPHP.
Directors are way over paid and have awarded themselves pay increases and more shares, for what can only described as an appalling performance.
Charging the company huge interest on a loan.
They have delivered absolutely no value to date.
We have a falling share price.
Have diluted the company when they said they would not do so.
The promise of funding for gas sites goes back to over 18 months but we still have nothing.
Incredibly bad investor relations.
After saying this, I really hope they can pull their socks up & turn this around & quick.
Rather a bold and big statement Can you explain why you think it’s all over?
From whom are you hearing positive things and what are they specifically?
Monty5662
Not just Monty...here is something for you all to think about, as so many of you keep saying why hold shares in a company that you criticise. People invested on the original story / opportunity, the business model was wrong, the story changed, the promises / goals weren't delivered, the share price collapsed, so quite a few of us, if not all of us, are now in a negative financial position
The criticising is well deserved, due to incredibly bad management, bad choices, lack of expertise, the loss of the CEO, part timers with no experience in this sector & no focus, no funding delivered for gas sites, huge salaries / salary hikes and so on. So those in charge, deserve to be made accountable and criticised for what is a truly poor job.
So we the investors are now stuck holding large losses if we sell and I would guess most of us don't want to or cant afford to sell
The situation we find ourselves in, is solely down to the total incompetence of the management team, and as investors, we have the total right to criticise them. All investor across the stock markets of the world, have the right to criticise the board in any PLC, big or small and they do. By criticising them, we can hopefully bring about change and see our investment grow. Doing & saying nothing, would be foolish of us, so it is important to criticise where criticism is due
Blame solely lies with the management, over promised and under delivered
There is only one full time member of staff and he is the only one with industry experience
Tatnall and Longley are part timers with no industry experience or expertise in this sector at all. They have other opportunities that they are also focused on, STHP, PPHP & FHP
The replacement CEO has no experience in running a company in this sector, he is just an accountant
We sadly lost our CEO, who did have a lot of sector experience. Management dont seem to be looking to replace him
Unprofessional through out and lacking in investor relationship
The management team are paying themselves huge salaries
Ta
Things aren't going to get better share price wise, until funding is in place and this isn't going to happen until 1st quarter next year.
I expect the share price to fall more until then as previously stated
Overview of the end of year results. The cash flow statement shows increased negativity from current operations and the company states that income from the Triad (and other incentives) will be lower next year and beyond. The Directors statement suggests that income, in the short term will only cover costs, at best, and that an equity raise is on the horizon. There is little in the short/medium term to suggest this share is anything more than a hold. This is what they say in the Accounts -The Directors have based their opinions on a cash flow forecast, which assumes that sufficient revenue will be generated for working capital purposes and that operating costs will be kept to a minimum until adequate revenue streams are secured. In addition future plans for the Group will be funded externally through a mix of debt and equity financing, which at the time of signing the accounts had not yet been completed.
Just read the results a bit more thoroughly. Numerous red flags. I think this is indeed a pivotal year for ppg, but it hasn’t been a good one. Half a million loss, and 73% of revenue came from triad. Good luck to you all & lets hope 2019 is the real pivotal year