PGY 0.00% 2.5¢ pilot energy limited

This was an important note from the Lead Manager of the Capital...

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    This was an important note from the Lead Manager of the Capital Raising for PGY yesterday.
    There is some exciting times ahead with PGY and hopefully some of it will rub onto TEG as well.


    There have been some important new developments in the renewable energy sector that have the potential to be very positive for Pilot Energy.


    2/9/21

    Legislation for Off-Shore Wind Farms in Commonwealth Waters

    Federal Energy Minister, Angus Taylor, today tabled legislation in Federal Parliament that will enable off-shore wind farms to be build in Commonwealth waters. Pilot Energy is the the owner of Australia’s largest off-shore oil and gas permit, in one of the windiest parts of the planet (Mid-West WA) and with existing infrastructure, including connection to the grid. The Company has commenced a feasibility study for its Mid-West Wind and Solar Project and intends to be at the forefront of this emerging multi-billion dollar industry. Further information on the Federal Government legislation is available here: Offshore wind set for take off in Australia as legislation tabled in parliament | RenewEconomy

    BP Feasibility Study for Green Hydrogen and Ammonia

    In August, global energy major BP announced completion of a study which confirmed the feasibility of large scale production of green hydrogen and ammonia. A copy of BP’s press release is attached, which also contains a link to the feasibility study itself.

    BP’s green ammonia project is one of numerous potential customers for Pilot’s proposed Mid-West Wind and Solar Project (MWWSP).

    Importantly, BP chose Geraldton in WA as the site for its feasibility study, which is also the location the Pilot’s MWWSP.

    The study states that Geraldton was selected for the following reasons:

    • Is one of the world’s best locations for diurnal renewable energy supply (wind and solar).

    • Existing infrastructure at Geraldton, together with trucking options to WA ports, that enables ammonia export opportunities.

    • A supportive, resource-focused State Government, with strong support for decarbonisation and development of critical at scale supply chain infrastructure (e.g., support for development of Oakajee port and power and water infrastructure).

    • Existing HV electricity connection to the SWIS (South West Interconnected System).

    • Proximity to large, long-term domestic markets (e.g. Pilbara region and the Dampier Bunbury Natural Gas Pipeline).

    • A skilled workforce with technical capability near the location of world-leading energy/resources research hubs (Perth), supported by energy and minerals industries fostering innovation across the energy value chain.

    • Provides for lower operational risks from cyclones, that are more prominent in locations further to the north of Australia.

    • As an area with existing industry and oil production, Geraldton is likely to face fewer obstacles to new development from the local community and/or in relation to potential environmental impacts.

    All of these advantages apply equally to the development of Pilot Energy’s MWWP, located at Geraldton.

 
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