Renewables

No matter if people are worried about renewables being cost effective or not (in terms of CAPEX), but I think:

- The CAPEX has already been spent - there's no going back on that.
- More renewables are coming online in this quarter (now) - 35% more solar, plus battery energy storage. This should mean consuming less 'other' power.
- These additions should lower our energy/production costs.
- The operating costs of the renewables should be low. (Whether or not the CAPEX is cost effective or not. Anybody have the operating cost numbers for BGL?)

So:
- Gold up like 5% from last quarter.
- Energy costs should be coming down.
- Production should be gradually rising (maybe just a little during FY25 versus Q4FY24's 42koz, so I'm unsure about this quarter specifically).
- They claim falling production costs as production ramps up through FY29, but this energy change could be a part of it - but if coming online in Q1FY25, it'll probably only have a fuller impact from Q2FY25 onwards.



This is old (2015), but it shows that renewables have high CAPEX relative to low running costs. The CAPEX may have improved for solar since then. So in our case, we spent the money, and soon reap the benefits? I expect the solar itself is good value. The battery storage though, I could not say whether it's good value energy or an expensive way of reaching net-zero.