The Cynic in me.... I hope there are some more exciting developments/projects than this announcement. Having said that there are a couple of interesting points to take out aside from the technical progress.
The line in reference to the "western power work, connection work and no barriers" suggests that all they foot stomping by the MP last month (or earlier) was just a purely political play.
The other political play is wave hub. Given the huge criticism that wave hub have received recently it would seem they are extra keen to accommodate a successful wave energy company at their site. The pressure seems to be really on them. If I read between the lines the use of the term "array" suggests that CCE still has it's sights on Wave hub and just needs to get through the successful deployment of the single buoy at Albany before it proceeds.
All this is nice to know but none of it increases revenue in the short term. MO, how about an announcement on the 100MW farm OR how about an announcement of a roll out with Lend Lease at all their projects OR how about an announcement about a series of DOD contracts OR anything that will produce near term revenue............
CCE Price at posting:
3.1¢ Sentiment: Buy Disclosure: Held
