Tessenderlo $TESB $TESB.BR has NOT been granted a permit to build their new gas-fired power station. There were 2 steps after filing their proposal: 1. Get selected for subsidies, but only if 2. They would get the environmental permit

Oct 16, 2021 · 8:00 AM UTC

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Seems like they fail on 2. Flemish minister has not granted a permit based on "environmental concerns". I dno if this is final or if $TESB can fight the decision tessenderlo.com/en/investor-…
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Belgium has been wanting to phase out nuclear energy for a long time. They need new energy supply to make up for this. I wonder what happens when not enough gas-fired power plants get a permit.
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Feels like the worldwide narrative around nuclear is changing and it can become more acceptable as a green energy solution. But seems to be a sensitive topic in Belgium.
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Tbh I have always felt agnostic about $TESB building the second CCGT plant Imagine they spend €500m on share buybacks instead. Wouldn't that generate a huge amount of value for shareholders with less risk than building a huge power plant? Probably wishful thinking though...
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Replying to @jefke00
Q: Share Buybacks: you generate a lot of cash, valuation is cheap... do you consider share buybacks to be a valid option to allocate capital? (4/5)
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Replying to @jefke00
To be a bit provocative: not necessarily a bad news. I believe they can better allocate their K on their existing BUs + the market might overreact and give us opportunity to buy some more at a greater discount 😅
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The plant would have started generating cash no earlier than 2026! With huge execution risks
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