Former Iseq darling Corre Energy attracts investment interest after share slump

  • 📰 IrishTimes
  • ⏱ Reading Time:
  • 64 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 29%
  • Publisher: 98%

مصر عناوين أخبار

مصر أحدث الأخبار,مصر عناوين

Energy storage developer has yet to find a way to capture and hold on to shareholder value

Global equity markets were on a tear at the time. Initial public offerings were running at record levels globally. And few sectors were as in vogue as green transition stocks, amid concerns about climate change and power prices.

Corre’s most advanced development is its Zuidwending project in the province of Groningen in the Netherlands. The first large-scale compressed air energy storage facility to be constructed in Europe in almost 50 years will allow surplus energy to be converted into compressed air, stored in underground salt caverns. ZW1 will be capable of supplying up to 320MW of electricity to the grid for a period of up to 3½ days. Still, it’s not due to come on stream until around the end of 2026.

Much of the sell-off is not of Corre’s making. The S&P Global Clean Energy Index, spanning renewable energy companies to wind turbine and solar panel makers, has slid by almost 25 per cent over the past 12 months, amid a decline in energy prices and the weight of higher interest rates on this capital-intensive sector. By contrast, the FTSE All-World Index has advanced nearly 25 per cent over the same period.

The company said last September it aimed to have funding arrangements in place for its main projects by the end of 2023. It said before Christmas that co-investment talks were being finalised on the ZW1, Danish GHH1, and first German projects, and that the specific terms would be spelt out “in early 2024″. Investors are still waiting.

 

شكرًا لك على تعليقك. سيتم نشر تعليقك بعد مراجعته.
لقد قمنا بتلخيص هذا الخبر حتى تتمكن من قراءته بسرعة. إذا كنت مهتمًا بالأخبار، يمكنك قراءة النص الكامل هنا. اقرأ أكثر:

 /  🏆 3. in EG

مصر أحدث الأخبار, مصر عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Cost of Living Changes in April: Energy Prices Drop, Annual Increases ImplementedFind out the latest cost of living changes for April, including energy price drops and annual increases. Learn about the energy credit and the Wage Subsidy Scheme for people with disabilities.
مصدر: RSVPMagazine - 🏆 7. / 76 اقرأ أكثر »

Full Moon 2024: The Worm Moon set to appear tonight & how it affects your energyThis month's full moon is known as the Worm Moon and should be visible in parts of Ireland tonight and tomorrow depending on rainfall and clouds
مصدر: RSVPMagazine - 🏆 7. / 76 اقرأ أكثر »

Yuno Energy cuts electricity rate by 3.4% for new customersGroup, which has more than 180,000 electricity and 60,000 gas customers, says typical customer will pay €1,325 per year
مصدر: IrishTimes - 🏆 3. / 98 اقرأ أكثر »

Yuno Energy cuts electricity prices againYuno Energy is cutting its electricity rates for new customers from today for the fourth time this year.
مصدر: RTEbusiness - 🏆 16. / 61 اقرأ أكثر »