Good morning
Please find attached this mornings Initiation of Coverage on Rame Energy, the international energy consultant, engineer and power generator, from house broker Northland Capital Partners.
They have provided a BUY rating and a price target of 31p, which represents a 100% uplift from the current price of 15.5p.
The note follows on from this mornings news that the Company has acquired the UKs longest established solar designer and installation company to strengthen the energy consultancy side of its business, and Mondays news that the Company has secured US$69m of funding for its next 4 wind development projects in Chile from banking major, Santander.
This sees the Companys first 6 wind projects funded totalling over 120MW, significantly de-risking the Companys strategy to transform itself into an Independent Power Provider in Chile, where it has proven experience and has already been involved in installing 24% of the countrys wind projects.
House analyst Mark Simpson describes how Rame is delivering on its IPO manifesto, with its first owned wind project to be completed this year and on-track to deliver 100MW+ of capacity by end 2015. Work at the first 15MW site, due to become operational by the end of this year, has commenced.
Rame only listed on AIM in April 2014.
If you would like to speak to the Company, please let me know and Ill be happy to arrange a call or a meeting.
I have attached the two recent press releases referred to above.
Many thanks
Lizzie
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Elisabeth Cowell
St Brides Media & Finance Ltd
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www.stbridesmedia.co.uk
Tel: 0207 236 1177 | Mob: 07900248213 | Twitter: @StBrides1