Ann: Investor Presentation, page-48

What is interesting is if you delve deeper is the structure of the Sengkang powerstation, the contracts for gas supply, maintenance contacts etc also if you take a broader view. A example of this is what is one if not the main industry in Sulawesi. Indonesia currently supplies about 25% of the worlds nickle ,and that is stated to possibly increase to 50% in the next decade. A article in the Jakarta Post and Petromindo in Jan 2020 stated that the power required would go from 575MW to 1580MW in this area alone.It must be noted that Indonesia has legislated that most of the raw ore must be processed and refined in Indonesia
Secondly look what PLN has done in the last 14years in South, Central and Southeast Sulawesi,the power grid and powerlines, including the new 275kv north south line running right down Sulawesi island that now connects to a web of new 150kv lines. And where does that major 275kv run right next to ,yes the Senkang powerstation. That is why I believe in the Investor presentation EWC have a forward presentation of 2 ×400MW possible expansions. EWC has always acted fairly and in good faith in Indonesia and as a result it has a very good standing in Indonesia. It has achieved the PSC extension until 2042, you can't run as gas powerstation without a gas supply, there is still the outstanding Indonesian partner farm in to the Sengkang gasfield so I am sure there is a strong positive momentum towards finalizing a new PPA agreement now that the forestry permit saga has been resolved, but yes absolutely it's not done until it's done and signed off correctly.
I believe that given the share holding structure in EWC they would not have proceeded with this rights issue unless most if not all the top 5 or so shareholders were on board.For them to be on board particularly Clermont, then they would have to be reconciled to the success of EWC is imminent that and /or there is a new large corperate synergistic party.
Cheers Doc