Delays cause grief to all shareholders but maybe the delay in the San Quinton project has been a blessing in disguise, allowing the financial close of IC to come through, thereby helping the overall due diligence process for Generate Capital..
.I'm sure with an extra $20 million in the bank and NOT A MAYBE $250 million plus backlog pending (instead of $50 mill plus a maybe $200 from IC) .....the financial health scores should rise helping FLC achieve more favorable terms of the financial facility Generate are looking to put down. I'm sure the terms won't be cheap, so any help is welcome.
From September 2019 quarterly
The due diligence process for the Generate Capital corporate term loan that was disclosed in the Q2 Business Update is progressing. The contemplated first use of this facility had always been to fund Fluence’s equity contribution for the San Quintin project, so the delay caused by the change in local administration has delayed closing the Generate Capital facility. We expect to finalize the corporate term loan shortly after the San Quintin amendments are finalized.
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