Post by
BayWall on Mar 05, 2022 6:11am
A few observations
Why was Scotia confident back in Sept 2020 when Northland came on board. Or was it because Northland did come on board? No EPA was in existence at that time. BC Hydro has ample power until 2030, no need to buy from IPP's. But it doesn't prevent an offtaker to request windpower.
In Alberta for example June 2021, Amazon went into a 375 MW solar project. Amazon did not go to BC Hydro or Hydro Quebec and say we will buy hydro power. But it's about wind and solar.
What prevents a bank, federal/provincial governments or any credit worthy corporation from buying offshore windpower from BC? It doesn't have to be BC Hydro. Maybe Northland has a company from Europe ready to invest in some hydrogen/green marine fuel technology. Maybe the recently proposed Ksi Lisims LNG wishes to buy windpower?
It will all get mixed into the BC Hydro's grid. but it's still windpower being purchased.
As of July 8, 2021 still no EPA. Oceanic did a $300K private placement mostly with insiders at 14.5 cents with 20 cents warrant attached, good till July 8, 2022. Part of this was to help with securing an EPA the company's news release says.
A note on the 8 to 2 cents, one day drop back in March 2020. Three weeks later there was a NR that Oceanic had signed Northland for the project's development. Coincidence?
The biggest question is, why am I on this forum seemingly forever. I'm not the Scotia investor buying, but simply taking the cue from them.