SeaEnergy PLC (formerly Ramco Energy plc) is a Scottish public limited company headquartered in Aberdeen, Scotland.
In September 2009 the board announced the intention to focus the group on renewable energy, specifically offshore wind. SeaEnergy in mid-2010 specified it would concentrate on marine services for the offshore wind power industry, following an assessment of the equity markets, investor sentiment and the funding environment.
It is in the process of selling its 80%-held renewable energy operating subsidiary SeaEnergy Renewables Limited which currently has interests in three offshore wind farm projects in development, totalling 3,125GW of capacity.
09/12/11
Originally an oil exploration-focused business called Ramco, SeaEnergy has retained its oil interests but changed its name in order to reflect a new focus on the burgeoning sector of offshore wind energy.
29/09/11
Although SeaEnergy may distribute some of the £27 million cash on its balance sheet among shareholders, Ambrian Partners believes the focus on winning tenders for its specialised vessels for the offshore wind power industry is “equally important” for driving value at the business
06/06/11
The deal announced by SeaEnergy and Repsol today will enable the firm to pursue its plans of supporting the offshore wind sector as well as allow it to hang on to its oil and gas investments
06/06/11
The planned sale of its offshore wind farm business provides the company with the capital to grow its marine operations, according to Gurpreet Gujral of City broker Ambrian Capital.
09/12/10
Offshore wind business SeaEnergy (LON:SEA) has seen plenty of changes since we first profiled the business at the start of January this year. Here Jon Mainwaring assesses the shift of emphasis.
18/06/10
In light of a tough financing environment, the group is planning to sell all or most of its SeaEnergy Renewables unit and focus on marine services to maximise shareholder value.
06/01/10
Sea Energy looks set to secure a participation in a 1.3 GigaWatt project offshore Scotland and is awaiting the final outcome of the latest bidding round, expected during January 2010.
04/01/10
Two years ago, the government announced plans to open up the seas around the UK to enable the deployment of up to 33 gigawatts of offshore wind power by 2020 in order to help the UK meet its climate change obligations.
02/10/09
Ambrian Capital has issued a note on SeaEnergy PLC following the name change from Ramco Energy and the strategic shift to pure-play offshore wind energy play, with a 'buy' rating and 81p/share valuation.
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