RCR rincon resources limited

Thanks again Matto. I hope this is of use to people ..basically...

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    Thanks again Matto.
    I hope this is of use to people ..basically just building up background information for myself and sharing as I go along .
    Wish I had done it in March wondering why the price kept going down with no significant shorting

    After looking a bit further seems RCR picked up Wemen along with a collection of others from Wirsol, the solar branch of international renewable energy company Wircon last December

    WEMEN SOLAR FARM
    The $260 million contract for two farms at Wemen in Victoria and Clermont in Queensland was announced to shareholders December 14 2017 https://www.rcrtom.com.au/media/242...tracts-for-wemen-and-clermont-solar-farms.pdf
    The 88MWac Wemen Sun Farm will be located outside Wemen, Victoria, which is approximately 110 kilometres from Mildura. That facility is scheduled to be connected to the grid mid-2018.
    The developer of both facilities is Wirsol Energy Ltd.
    “The Australian market plays an exceedingly important role for our international growth strategy,” said the company back in September when it acquired the Wemen Sun Farm project. “In coming years, we will be making a significant contribution to the expansion of renewables and setting up important power production facilities with our solar parks.”
    Wirsol has five solar farms in construction in Queensland and Victoria, with a total solar generation capacity of ~400MWp, all of which are scheduled to be connected to the grid by mid-2018. The company said it also had additional projects in its pipeline totaling approximately 670MWp.
    https://www.solarquotes.com.au/blog/clermont-wemen-solar-farm-mb0300/


    CORPORATE OWNERS/ADVISERS/FINANCERS?
    ..and Wirsol had intended to go public in Australia on the strength of these farms via a $500 million IPO backed by UBS announced on April 17 http://www.riocapital.com.au/content/?137.html

    In the corporate world Macquarie ( possibly cognizant of the IPO ) decided to put the outperform rating on RCR on June 14 after a visit to RCR’s Victorian plant Swam Hill ( which subsequently opened July 19)https://reneweconomy.com.au/victorias-second-large-scale-solar-farm-opened-at-swan-hill-56613/

    CURRENT TRADING HALT

    But It is not, and would not be a good look for the Victoria Government “
    The Victorian Government’s view on the one hand is full steam ahead . The rollout of new solar farms or parks are inline with it’s renewable energy targets of 40% by 2025.

    However back in 2017 another private company , the Australian Energy Market Operator began to advise all was not well estimating a $1 billion spend was required on high voltage wire of ‘curtailment losses’ of up to 50% were to be avoided.
    On 5 May 2017
    If the issue is not addressed, more than half the output may have to be curtailed, forcing the state to import electricity from interstate imports.
    ..
    The Victoria government is believed to be aware of the issue, which is one of the reasons it is moving so quickly on its new battery storage tender, which seeks to install at least two 20MW battery story installations, with a combined minimum of 100MWh of storage, in the west of the state.

    More storage will likely be needed, and while some upgrades of transmission lines are likely, it is believed that the Victoria government will consider location and grid constraints when choosing and allocating wind and solar projects in that part of the state. It could be a reason why the legislation for the VRET has been delayed.

    Curtailment is not unusual. It is a growing problem in Germany, and has reached catastrophic levels in China where huge amounts to wind and solar have been built in provinces without proper grid connections. But it is not, and would not be, a good look for the Victoria government.
    Last edited by sabine: 19/08/18
 
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