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Shetland windfarm - Viking Energy


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^^^^ Graeme, the only shareholders likely to be tempted by this would be the VE boys, and they only hold 5% of the shares between them, not enough to allow a buyer to change anything against the wishes of SSE or the CT.

 

Absolute rubbish AT. What if SSE were bought out, for example, by EDF and they decided to offload the shares? One of many people's gripes is the fact that the paperwork/agreements were never placed in the public domain so we never got a chance to digress their contents with sufficient scrutiny - and with your wild predictions, all I can say is that I don't recommend you have a career change as an act supporting Paul McKenna. :wink:

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^^^^ Graeme, the only shareholders likely to be tempted by this would be the VE boys, and they only hold 5% of the shares between them, not enough to allow a buyer to change anything against the wishes of SSE or the CT.

 

Yes, but....With the absolutely insane, idiotic and suicidal arrangement of SSE holding 50%, Burradale owners holding 5% and the CT holding 45%, that 5% owned by Burradale is a key shareholding that would allow SSE to arm twist the CT in to doing things their way, regardless of what the CT or Shetland might want. :evil: :evil: :evil: :evil:

 

The CT, to be able to fulfill any promise about "only doing what Shetland wants" should have an absolute minimum of 51% shareholding in VE.

 

Do you really trust the Burradale owners to resist any and all offers for their 5% SSE might put their way, *if* SSE wanted to take the project in a direction the CT were dead set against. I sure as hell don't. All that has to happen is for SSE to buy out Burradale's cut, and Shetland is up that creek paddle-less as SSE puppets. :evil: :evil: :evil: :evil:

 

Until and unless a cast iron, enforcable by law guarantee is made publically by the CT, Burradale owners and SSE, that the 5% stake held by Burradale, if sold, must be offered to the CT as first refusal, the councillors backing this are rushing headlong towards the banks like a bunch of Lemmings, taking Shetland's future with them.

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....... because the new tidal generators are producing cheaper and more reliable supplies and what current Viking Energy produces is not saleable.

 

Out of interest which tidal turbines are these?

The ones made out of a corrosion resistant plastic material that will produce dependable electricity supplies once someone has invented them.

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Yes, but....With the absolutely insane, idiotic and suicidal arrangement of SSE holding 50%, Burradale owners holding 5% and the CT holding 45%, that 5% owned by Burradale is a key shareholding that would allow SSE to arm twist the CT in to doing things their way, regardless of what the CT or Shetland might want. :evil: :evil: :evil: :evil:

 

The CT, to be able to fulfill any promise about "only doing what Shetland wants" should have an absolute minimum of 51% shareholding in VE.

 

Do you really trust the Burradale owners to resist any and all offers for their 5% SSE might put their way, *if* SSE wanted to take the project in a direction the CT were dead set against. I sure as hell don't. All that has to happen is for SSE to buy out Burradale's cut, and Shetland is up that creek paddle-less as SSE puppets. :evil: :evil: :evil: :evil:

 

Until and unless a cast iron, enforcable by law guarantee is made publically by the CT, Burradale owners and SSE, that the 5% stake held by Burradale, if sold, must be offered to the CT as first refusal, the councillors backing this are rushing headlong towards the banks like a bunch of Lemmings, taking Shetland's future with them.

Thank you - exactly what I was alluding to, but expressed with more precision.

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....... because the new tidal generators are producing cheaper and more reliable supplies and what current Viking Energy produces is not saleable.

 

Out of interest which tidal turbines are these?

The ones made out of a corrosion resistant plastic material that will produce dependable electricity supplies once someone has invented them.

 

So there aren't any tidal turbines produced cheaper energy then?

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^^^^ I think if EDF were to attempt a takeover of SSE it would immediately go before the monopolies and mergers commission.

 

And anyway, how would a takeover of SSE suddenly invalidate every contract SSE had ever signed with anybody. The business world just doesn't work like that.

 

AT, please credit me with some business knowledge. WHERE did I say that a takeover of SSE would suddenly invalidate every contract SSE had ever signed - I haven't and didn't. IF SSE were taken over, the new owners would be the ones with the contract. Now as you seem to have ignored the key point I made, namely that the contracts have not ever been put in the domain, do the right thing and ADMIT you simply don't know whether they have the right to sell those shares. Now if you know more than Wishywashyhart does, then please publish your sources - you'll see that over a year ago I commented that I had contacted the VE Spokesperson and if my memory serves me correctly, I had posed the question concerning councillors being directors and what clauses were in place to stop them from selling their shares, never mind SSE.

 

Ghostrider is absolutely correct - SIC are puppets.

 

And where do you get the idea the Monopolies Commission would be involved? I used EDF as an example but SSE aren't the biggest electrical supplier in the UK (And if they are, then I apologise).

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Ok, I admit that there is a hypothetical scenario where the CT could end up owning 45% of VE while some other entity owned 55%.

 

What difference would this make?

 

The CT would still own 45% of VE and therefore get 45% of the profits. Just as they do at the moment.

 

So what is the problem here? What could the CT be forced to do by this hypothetical majority shareholder?

 

The windfarm would still generate electricity, and this would still be sold, and the profits would still be split 55/45. So what's this massive panic?

 

I just don't see this monster you're all apparently terrified of.

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....... because the new tidal generators are producing cheaper and more reliable supplies and what current Viking Energy produces is not saleable.

 

Out of interest which tidal turbines are these?

Problems with the blades last I heard on the AK1000 in Orkney :- http://www.bbc.co.uk/news/uk-scotland-highlands-islands-11492829

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