think big picture.I would say that a billion dollar plant saved,...

think big picture.
I would say that a billion dollar plant saved, is a billion dollar dilution hurdle that we skipped over.
So then again, it comes back to forward EPS. And that is where that billion dollars of capex saved, or whatever it would cost in a year or two...

Low dilution = high Earnings Per Share. And keeping it that way, will translate that billion dollar of capex etc, embedded in one way or another, into our MC, due to the book value that underpins the earnings engine.

You also have the probability curve / approvals / finance risk / that shoots right up. Which entices higher deeper pockets to pay a premium for the horse with good shoes on, not the one that is lame. Then comes takeover value. Any predator must put on his left ledger what he is paying, what else he has to pay, / and on the right ledger what it will return him x risk.

A predator buying out either an identical scale developer, one with, one without / a billion dollar plant already there and largely approved, and you see that they are going to have to spend and risk all that on the alternate. Which ups the price tag on the former to include both the capex inclusive, and the X risk of approvals.