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Alkane Energy
- BY: Andrew Hore |
- POSTED: 04/05/2011 |
- COMMENTS: Add yours
Coal bed methane producer Alkane Energy says that higher electricity output has enabled it to increase first quarter revenues by 51%.
Electricity output increased 54% to 37GWh thanks to recent investment in new sites. The comparatives are also weak because of the poor weather in the first quarter of 2010. Overall trading is in line with expectations.
Electricity prices are starting to strengthen. Alkane has sold forward 88% of 2011 output at an average base load selling price of £49/MWh. It has also sold 12% of 2012 output at £55/MWh.
Alkane is on track to open three new sites this year with another potential site depending on if there are sufficient methane reserves. The first biogas project should commence later this year. Alkane intends to apply for new licences in the Department of Energy and Climate Change’s 14th On-Shore Licensing Round.
At 23.5p a share, Alkane is valued at £22.1m.
See more quoted cleantech company news on http://www.quotedcleantech.com
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