Rame Energy (LON:RAME)
headquartered in Plymouth is a new entrant to the AIM market and is focused on energy and marine services in the UK and a pipeline of renewable energy
projects in Chile. It is the entry that
Rame Energy have carved out to bring renewable energy to the industrial and domestic
sector in Chile which makes this quite an interesting investment proposition for
me. The Chilean government recently
passed legislation to open up the country's domestic market for
renewables and in particular, solar power, which is where the Beco Solar subsidiary would be well placed
to capitalise.
Following a number of recent announcements Mr Tim Adams, the Chief Executive Officer of Rame Energy, has taken time out to discuss various business aspects.
Q1. Briefly, could you please set the scene with
the background, business model and mission?
Rame Energy is an Independent Power Producer (IPP). We provide on-grid and off-grid power solutions to industry by generating renewable energy; primarily wind and solar.
Founded in 2002 as the Seawind Group, Rame has a proven track record in power project design and execution. For over a decade we've delivered a range of projects, establishing a strong reputation for meeting deadlines and budgets - often in harsh environments and remote locations.
In 2006, we were introduced to the Chilean energy market by our client Barrick Gold for whom we conducted a number of feasibility studies across Latin America. Barrick engaged us to design, construct and operate the world's highest altitude utility scale wind turbine – no mean feat in the middle of the Argentinean Andes. We then went on to develop, at the time, Chile's largest wind farm project for mining – the 20MW Punta Colorada project.
Having amassed a significant body of experience and expertise, we took the strategic decision to own and operate our own power generation projects and this led to our AIM listing back in April 2014.
Our mission is to create value for stakeholders by developing a portfolio of high yielding, renewable energy projects. These assets will generate clean, commercially priced electricity both on-grid and off-grid for the benefit of our industrial customers.
Our business is focussed on returns rather than scale and the economic model for private power sales to industry is robust; high performing power projects with guaranteed, visible, near term returns allow capital to be…
