Lower losses at Helius Energy

February, 2011

Biomass-fuelled energy plants developer Helius Energy reported a lower underlying loss in the year to September 2010.

Stripping out earn-out adjustments, the loss fell from £1.82m to £1.26m. Higher finance income was the reason behind the reduced loss.

The early settlement of the Stallingborough earn-out led to a write-down of £3.8m. The Stallingborough biomass project was sold to RWE Innogy in September 2008 for £28.1m on completion, plus 13% of the profits after tax for the first 24 years of operation. That had been valued at £12.3m but it has been reduced to £8.5m.

There was cash in the bank of £10.1m at the end of September 2010, after a cash outflow of £4.8m.

AIM-quoted Helius has secured planning consents for 170MW of biomass capacity. That includes a 100MW plant at Avonmouth. Project finance is being negotiated for the Rothes project, which will use distillery residues and wood fuel.

Public consultation has started on another 100MW plant in Southampton.

Clarification of Energy Market Reform should include a carbon floor price and capacity payments. This could increase the value of biomass power station developments.

< Prev   Next >
 

Share

Login

Content

AIM Comment

AIM - a tough market for cleantech compnies - by Andrew Hore

Although a few new entrants have joined AIM this year, cleantech companies are still leaving the junior market. Stock markets around the world are becoming tougher places to raise money again, but the problems with the latest company to shun its AIM quotation date back to its flotation and lack of financial progress since, rather than current market conditions.

Read more


SUBSCRIBE

Quoted Cleantech costs £85 for annual subscription.

DOWNLOAD TRIAL ISSUE

Register Now! - to receive regular email alerts.

Subscribe Now! to receive the newsletter for one year AND gain online access to all the back issues.

Already a subscriber (and logged in)? Download the latest issue - and back issues - now

Editor´s Message

by Anne McIvor

The Solyndra collapse in the US has damaged investor sentiment throughout the solar industry. In an unrelated move, the UK Government has backtracked on its policy to provide feed-in-tariffs (FiTs) for the solar sector. The UK Government’s argument is that the prices of solar modules have fallen substantially since the policy was first put in place, and that the FiT subsidy now permits solar installers to make an unjustifiable return on their investments.

Read more

 

 

Cleantech Utility Comment

UK Energy Policy – Prescribed by Germany and France? - by Nigel Hawkins

The last few weeks have been busy times in the EU and UK energy sectors – and the next few months are unlikely to be any different. 

Read more