The following share offer is available to potential investors:
Tidal Power Plc – Securing the Planning in Perpetuity for Swansea Bay Tidal Lagoon (the “Swansea Project”)
Dated 4th December 2019
Following Theresa May’s government’s refusal in June 2018 to offer the Swansea pathfinder project any subsidy support via a Contract for Difference (CfD), the revenue support mechanism open to other forms of low carbon power generation and responsible for guiding offshore wind to today’s low prices, Tidal Power Plc has advanced an alternative delivery pathway that assumes no such subsidy. Twelve months of negotiations with private and public sector organisations interested in signing long term power purchase agreements with the pathfinder project have confirmed this to be a viable, if longer and more complex, route to financial close and one that is open to the company irrespective of the outcome of the election.
Preserving the Development Consent Order
Swansea Bay Tidal Lagoon was awarded its main planning permission by the UK coalition government in June 2015 and found to be a ‘no regrets policy’ option by the government’s Hendry Review of tidal lagoons in 2017, before suffocating amidst the sustained political uncertainty that precipitated the 2019 General Election.
The Development Consent Order (DCO) for Swansea Bay Tidal Lagoon will expire in June 2020 unless material works have commenced. Funds are being raised primarily to complete the discharge of planning conditions that will allow the company to prepare for a start on site. This will in effect convert the DCO to ‘evergreen’ status and retain for the UK the option of tidal power at scale, when the political climate allows.
The Investment Opportunity
Tidal Power Plc is a new, standalone company which was formed to bring the work already undertaken by Tidal Lagoon (Swansea Bay) Plc (“TLSB”) on the Swansea Project together with the progress made on future large scale projects by Tidal Lagoon Plc (“TLPLC”). Its primary objective is to take the Swansea Project to financial close with the secondary aim of subsequently delivering further cost competitive tidal lagoons as a strategic large scale renewable energy solution to the UK’s energy requirements.
We are seeking to raise £1.2m to protect the Swansea Project, the funds will be used to discharge the remaining DCO conditions and progress the marine licence. We are offering 480,000 A Ordinary Shares of 0.01 each in Tidal Power Plc at an issue price of £2.50 per new ordinary share, with a minimum subscription of £500.
We issued an Investor Memorandum on 4 December 2019: Securing the Planning in Perpetuity for Swansea Bay Tidal Lagoon Investor Memorandum. This document outlines the proposition in full, including the opportunities and risks associated with the investment. The document should be read in its entirety before any decision is made to invest.
Please be aware this is a very high risk investment and as such is only appropriate for high net worth individuals or investors who can sign a sophisticated investor form. If you would like to receive the Investor Memorandum you will need to self-certify that your application would fall into one of the following five categories: –
By requesting the Investor Memorandum you are confirming that if you went ahead and purchased shares you would be able to sign one of the declarations. If you are in any doubt as to whether you are eligible to apply, you should consult an independent financial adviser.
To request a copy of the Investor Memorandum, please click here.
All funds invested will be at risk and you may lose all your money if you decide to invest into Tidal Power Plc. Please note that this offer is to fund the preservation of the DCO and for investors to receive a return, the Swansea Project needs to achieve both that milestone and the next phase to subsequently reach financial close.
For enquiries about the fundraise please call Katie Powis on 01792 274006 or email email@example.com