Legally not binding, but looking at where Fluence are and who the financier are, it is very much in the bag in my view.
What it signals is an in-principle agreement for the facility by both parties, with the usual due-diligence still required by Generate .. but Fluence is not a new customer. Fluence is an existing customer, whereby Generate have already done their due diligence on Fluence recently (Nov11 US$50m BOOT financing facility).
And for Fluence to have announced the existence of the new term sheet with Generate (the Nov11 facility was announced without Generate named as the financier) ... it would be highly unlikely for them to turn it down given the San Quintin and cash needed to ramp up production in China is essentially dependent on it.
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