I am not sorry to see them cut solar from their portfolio. For a while I have been thinking that space is becoming overcrowded and less profitable because of competition.
I think bioenergy gives them a much better chance to grow the business as there are less players.
I have read that Australia trails Europe by ten years in biofuel uptake.
For solar power, we are arguably at the forefront of uptake.
I am sure AGO Bioenergy, the Resonance Industrial Water Fund and GrainCorp, were all attracted to RNE for the opportunities that bioenergy offers, more so than solar.
"RIWIF is an investment fund managed by UK based Resonance Asset Management Limited, which is focused on investment in outsourced industrial water treatment, waste to energy and resource recovery infrastructure projects in Europe, Australia, China and South East Asia."
https://www.tglaw.com.au/corporate/news/tg-enu-energy-alliance/
Ann: ReNu enters agreement with CleanPeak to sell solar assets, page-18
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Mkt cap ! $5.083M | |||
| Open | High | Low | Value | Volume |
| 0.8¢ | 0.8¢ | 0.7¢ | $2.35K | 307.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 1498389 | 0.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
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| 0.8¢ | 1829985 | 5 |
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| Last trade - 16.10pm 24/05/2024 (20 minute delay) ? |
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0.7¢ |
Change
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| Open | High | Low | Volume | ||
| 0.8¢ | 0.8¢ | 0.7¢ | 228466 | ||
| Last updated 14.42pm 24/05/2024 ? | |||||
| RNE (ASX) Chart |