Ann: DEVO Project - Final Investment Decision, page-67

I posted earlier my DCF for DeLorean which included those assumptions. EmptyTrolly and I were discussing it at the time, and he has used many of the same assumptions. In terms of that specific query, it's based on Revenue/EBITDA margin of 19.4% being maintained - this is their historical margins for Biogass projects. All their contracts have multi year payments - on signing, on milestone delivery, and then a balloon payment - it's commercial in confidence so not sure on the individual contract amounts. However typically 100% is paid over two financial years as it's about a 14month process - though reality is this will essentially dry up after FY22 as they will focus their development efforts on DeLorean Energy (their own assets, rather than build for 3rd party).

Meanwhile HotCopper folks, you been noticing the price of electricity / gas recently? Been on an absolute tear. Not sure how this is going to impact on CleanTech margins - could be positive for some of their long term offtake agreements, could be negative where they are buying on the short term spot market, and could be negligible where they have predetermined margins. I haven't been able to judge the net short term impact and break out the WA prices vs eastern - though long term it's good as they should be able to increase their margins with prices being higher, all things equal.