FCMR Posted July 25, 2005 Share Posted July 25, 2005 Link to comment Share on other sites More sharing options...
teapot Posted July 25, 2005 Share Posted July 25, 2005 Not directly MEA - but can someone explain to me what this new company that Mr Proffitt is running is all about? Is it in the same position as the MEA, ie not directly but part of the Government. What is this German wind farm company he's buying, is it right that's it's going to cost 30 million. If so where is the money coming from. Is he doing all this with the Treasury's blessing/knowledge. Do they need to know? Are they supplying the cash. Is he using the AAA status in order to borrow to buy this German WF? I caught the end of Rimington talking about windfarm on MR but didn't get the whole interview, obviously he knows something about it. Help please. Link to comment Share on other sites More sharing options...
Fleur Posted July 25, 2005 Share Posted July 25, 2005 All I can find is this Link to comment Share on other sites More sharing options...
Gladys Posted July 25, 2005 Share Posted July 25, 2005 Thanks Fleur. Interesting that Mr Proffit is also Chairman of Barclays International! Link to comment Share on other sites More sharing options...
P.K. Posted July 25, 2005 Share Posted July 25, 2005 A couple of statements in here particularly caught my eye! International Case Study11:15 · An international perspective on the possibilities and successes of PLC Understand the possibilities that PLC can unlock in Africa by learning from this UK based case study. The Isle of Man is an Island situated between Ireland and the U.K. with a of population of approximately 80 000. Although the Isle of Man is a crown dependency, it is not part of the U.K. and is seen as an independent country but the Isle of Man has special relationships with the EU and boasts to have the world’s oldest continuous parliament. Manx Electricity Authority (MEA) owns the longest AC (Alternating Current) sub-sea cable in the world, which runs through the Irish sea to the U.K. Its new power station proved to be one of the most environmental friendly engineering successes using natural gas and steam. Its fibre optic metro network, sub-sea fibre and existing electric infrastructure are ideally suited for the deployment of PLC. The MEA is currently in the progress of becoming a perfect model of how to efficiently provide electricity, gas and telecommunications via PLC. Discussing the background on Isle of Man Why does PLC technology suit the Isle of Man Technical issues Lessons learnt Ingeneous solutions The way forward ensuring commercial success. Dr Jannie Retief Director - Telecommunications and Business Development Manx Electricity Authority (UK) <{POST_SNAPBACK}> The same Dr Jannie Retief late of the MEA board but still Operations Director of Manx Based Renewable Energy Holdings PLC Executive Director one Mr M Proffitt. "The way forward ensuring commercial success". For whom I wonder - the consumer perhaps? Link to comment Share on other sites More sharing options...
Gladys Posted July 25, 2005 Share Posted July 25, 2005 There are several familiar names at REH! Link to comment Share on other sites More sharing options...
joeyconcrete Posted July 25, 2005 Share Posted July 25, 2005 The Jannie guy obviously knows his stuff.. I think the fact the MEA were looking into the possibility of providing gas, electricity and telecommunications may have sent warning signs to other local incumbent organisations. Perhaps the MEA business plan was progressing well, Barclays obviously liked it, the DTI appeared to like it, then maybe it was decided that it wasn't really a good idea afterall with a bit of persuasion. I'm really puzzled and can't really make my mind up. Mr Proffit is obviously a clever fella and I can't really see him making such of a cock up as the government are making out. Perhaps he was just too revolutionary. What is the current situation? Is that it done and dusted now? Link to comment Share on other sites More sharing options...
crumlin Posted July 25, 2005 Share Posted July 25, 2005 The Jannie guy obviously knows his stuff.<{POST_SNAPBACK}> Must know a lot of stuff to cost £60,000 in relocation allowances etc, etc. Who pays for that then as he seems not to be working elsewhere and not at MEA culpa anymore? <{POST_SNAPBACK}> You Manies are now paying for it and a little bonus too Link to comment Share on other sites More sharing options...
joeyconcrete Posted July 25, 2005 Share Posted July 25, 2005 The Jannie guy obviously knows his stuff.<{POST_SNAPBACK}> Must know a lot of stuff to cost £60,000 in relocation allowances etc, etc. <{POST_SNAPBACK}> Maybe he had a lot of stuff .. Knowing the current scandal, we'll find out he relocated from Foxdale to Douglas Link to comment Share on other sites More sharing options...
ButterflyMaiden Posted July 25, 2005 Share Posted July 25, 2005 Not directly MEA - but can someone explain to me what this new company that Mr Proffitt is running is all about? Is it in the same position as the MEA, ie not directly but part of the Government. What is this German wind farm company he's buying, is it right that's it's going to cost 30 million. If so where is the money coming from. Is he doing all this with the Treasury's blessing/knowledge. Do they need to know? Are they supplying the cash. Is he using the AAA status in order to borrow to buy this German WF? I caught the end of Rimington talking about windfarm on MR but didn't get the whole interview, obviously he knows something about it.Help please. <{POST_SNAPBACK}> REH is quoted on the AIM. According to my husband, it looks a good bet. They have also invested in a submersible device called CETA which will generate power. We need a technical person to explain it (Rog?). I would bet that Mr Proffitt feels more comfortable working in an independent company which is answerable to its shareholders than he ever did working for the public sector. Link to comment Share on other sites More sharing options...
FCMR Posted July 26, 2005 Share Posted July 26, 2005 Will Dr J Retief be made to pay back the £60k relocation cost he was paid to move to the Island as it seems he was only with the MEA a short time, and what was the 20k bonus and 24k expebses for Link to comment Share on other sites More sharing options...
Topaz Posted July 26, 2005 Share Posted July 26, 2005 Was it this...Something Stav was talking about a few months back ? Deep water generator puts wave power to the test by John Roberson A new method of generating electricity from waves has gone on trial in Australia, and supporters say it could replace wind power as the renewable energy of choice It is not very often that dignitaries gather for the champagne launch of a vessel that they hope will sink without trace, but the Ceto wave energy converter launched near Fremantle, Australia is designed to plunge to the bottom of the ocean and stay there. Ceto is basically a steel box that sits on the sea bed and pumps seawater to the shore, where it can be used either to produce fresh water or to drive turbines for power generation. The converter measures about 20 metres by 4.5 metres and is capable of pumping water at a pressure of 1,000 psi. Each unit is expected to produce enough power for about a hundred homes. While renewable energy research has focused mainly on wind turbines, supporters of wave power say that the energy within the oceans is a hundred times denser than that contained in other forms of renewable energy, such as wind or solar power. It is also more consistent: as any experienced diver will tell you, even when the surface of the ocean appears motionless the seaweed and the sand on the bottom is constantly moving. According to the Australian inventor, Alan Burns, who has been working on wave energy development for a quarter of a century, Ceto's major advantage over rival wave energy prototypes will be its efficiency. Unlike other methods, which pipe water ashore before harnessing its power and lose substantial amounts of energy in the process, Ceto captures the power of the water in situ. As waves move over the top of the unit, they press down on a disc that transmits the force to pumps inside, which deliver pressurised water to the shore. Ceto's other main advantage comes from its location on the seabed. Most other methods of wave powered electricity generation involve placing devices on the surface of the sea, where they are exposed to the damaging effects of stormy weather and could pose a threat to shipping. The fully submerged Ceto converters could also be used in areas of natural beauty, where offshore wind turbines or surface-level wave converters would be unwelcome. ............................................................................ ............................................. The company behind Ceto, Seapower Pacific, is owned by Renewable Energy Holdings, which is based in the Isle of Man and listed on the London Stock Exchange. Its CEO, Michael Proffitt, explained that there is some way still to go before the device is commercially viable. "We have set aside £1.5 million for what you see now, which is the commercial testing, so we'll be gathering data on the seabed for the next 12 months," he said. "That data will effectively design the commercial application, so this is more of a laboratory than the actual commercial unit." The trial unit will be sunk close to the shore in just 7m (23ft) of water during the testing process, and will have an access tower that will rise above the surface of the sea. Commercial units would be located further off the coast, in deeper water. Link to comment Share on other sites More sharing options...
Topaz Posted July 26, 2005 Share Posted July 26, 2005 Seapower Pacific: http://www.seapowerpacific.com/CETO-Project.htm Link to comment Share on other sites More sharing options...
Stavros Posted July 26, 2005 Share Posted July 26, 2005 Did you mean This one? Stav. Link to comment Share on other sites More sharing options...
Lonan3 Posted July 26, 2005 Share Posted July 26, 2005 Ah, yes... of course... CJ! "I didn't get where I am today without knowing how to keep an eye on profit!" Link to comment Share on other sites More sharing options...
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