I work in the renewables industry, doing due diligence for developers such as Genex, and I can tell you that the extend + extend modus operandi is very typical of this industry.
That said, I think the complexity and capital cost of this development compared with a wind/solar farm is the root cause of a longer-than-normal period before financial close. Keep in mind this will be the first PHES since Wivenhoe was built in the 70s, almost 50 years ago!
IMO, we’re looking at a 99% probability that KPH will eventually close, it’s just a little frustrating for holders having to wait when there are other good opportunities for investment out there.
Ann: Kidston Hydro Project Update, page-5
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