General GNX News, page-397

Interested in understanding the strategic rationale of developing a 50MW uncontracted solar plant (ie Jemalong).

Barriers to entry for solar developments look extraordinarily low. Presumably there is some risk that a tidal wave of solar plant developments will depress daytime pricing for the foreseeable future and limit GNX's ability to generate an appropriate return from Jemalong.

New to the story and probably missing something simple but this investment looks inconsistent with the strategy underlying the pumped hydro business (i.e. arbitrage an increasingly peaky electricity market).