News blog
Acta
- BY: Andrew Hore |
- POSTED: 27/07/2011 |
- COMMENTS: Add yours
Cleantech products developer Acta says that the Italian solar market remains uncertain because of problems with the interpretation of government policy.
The Italians have revised their feed-in tariffs but this has not been enough to fully clarify the situation. There has been some short-term activity but a cap mechanism is due to come into force at the end of August. No projects originated after February 2010 have been included within the cap. However, plans for a revised register have been announced because of apparent errors in the original one.
If Acta’s proposed projects are still not included within the cap then they will have to wait until 2012.
Acta had hoped to finance the rest of the business through near-term solar-related revenues. This has not proved possible.
The water electrolyser is developing ahead of expectations and Acta is looking to tap the back-up power market. Commercial production of the stack and electrolyser units should stasrt in the fourth quarter. Manufacturing facilities are being expanded.
The progress of the diesel enrichment product is not going to plan because engine tests have been disappointing.
Grants will help to fund €3.7m of development costs between now and 2014.
At 10.5p a share, down 2.5p, Acta is valued at £4.97m.
The interim figures are expected to be reported on 22 September.
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