News blog
Acta
- BY: Andrew Hore |
- POSTED: 04/08/2010 |
Catalysts and clean technology equipment developer Acta is continuing to make progress with its new solar photovoltaics projects and products.
Three planning consents for Italian photovoltaic projects have been received. These projects cover 2.7MW and are worth €870,000. Two of them are part of the previously announced €32.2m deal with SPF Energy but the other is for a new customer. Installation will be handled by Acta’s SolGen joint venture.
A further 21.9MW of installations should be approved in the next three or four months. Projects should be ready for installation within six weeks of consent being received. Applications currently in progress have a potential value of €7.5m with planning consent. Disposals could generate short-term cash for Acta.
Although Italian feed-in tariffs are set to reduce by 23% during 2011 solar panel prices are also falling so Italy remains an attractive market. Tariffs will fall by 6% in 2012 and in 2013.
Last month, Acta announced an exclusive supply agreement with Girelli Bruni, an installer of petrol station forecourt equipment, for photovoltaic installations and integrated hydrogen generators for the Italian service station sector. This deal could be worth up to €5m a year. Girelli Bruni is also the exclusive supplier of Acta’s collapsible photovoltaic bike shed canopy.
The majority of the 170 installations by Girelli Bruni in 2009 requested solar capacity. New fuel stations are becoming legally required to install solar generation capacity and provide fuel alternatives to petrol – for example, methane, LPG or hydrogen.
Acta has other products. It has designed a hydrogen-powered tender called HIDRO, which is designed for recreational boats. It was developed with dinghy manufacturer Callegari. The commercial launch will be at the Genoa Boat Show in October.
All this activity means that Acta is well on course to move into profit in 2011. Equity Development forecasts a 2011 profit of €2.2m, rising to €4.5m in 2012.
At 54.5p a share, up 1p, Acta is valued at £22.4m.
Acta recently changed its nominated adviser and broker from Charles Stanley to Altium.
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