These investors raised the usual questions – “What happens when there is no wind?”, “Won’t these wind farms blight the views?” and so on – but I felt that the negativity displayed by some of the questioners toward Mr Remp and his company was driven more by personal politics than by any investment consideration.
Cynicism about climate change and the need to fight it is quite understandable. Unfortunately, it is politicians who have the task of trying to persuade the rest of us to change our lifestyles in order to combat global warming – and politicians are never exactly flavour of the month.
Meanwhile, the cause of those who believe that every effort should be made to reduce carbon emissions has not been helped by the recent controversy involving the Intergovernmental Panel on Climate Change and its recent apology for issuing inaccurate statements about global warming.
But whether or not you agree with the concept of manmade climate change is missing the point. I am neither a climate scientist nor a politician, but as a former equity analyst I like to think that I know what drives investment and share prices.
SeaEnergy, along with its partner EDP Renováveis, is a company which was among the bidders that won one of the zones designated for offshore wind projects awarded by the UK’s Crown Estate early last month. The AIM-quoted company is in a great position to take advantage of the UK’s drive to develop offshore wind and it has the necessary skills and experience to do so.
Mr Remp himself is a veteran of the oil and gas industry and he had a successful career in that sector. Now, he is just as enthusiastic about offshore wind. “It reminds me of the North Sea in 1979,” he says.
The point is that UK offshore wind is going to happen, whether you agree with it or not - and it will throw up investment opportunities which any serious investor will not want to miss out on!
Jon Mainwaring
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