IF the deal closes before end of Jan, AVA bags $1.25m. The $11m only comes into play upon FID.
What I am more interested is the "economic interest".
Assuming AVA only receive a $1/MWh ORR, this would equal annual net profit of $6m from Coolimba assuming maximum buildout and a 90% capacity factor. The project is very long life and low risk (once built), so whack a PE of 5-8, and Bob's your uncle!
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