Hi R1 - it's my understanding that the initial US$20m is higher margin revenue, while the ongoing revenues from the project will be lower margin, consistent with the lower margins generally expected from custom engineered solutions (as opposed to SPS). It's this higher margin initial payment that goes some way to ensuring a profitable CQ4 and why the Company is keen to recognise it in that quarter.
Just wanted to confirm that is your understanding too (and the understanding of any others who might want to chime in).
Ann: Fluence Achieves Financial Close for Ivory Coast Project, page-16
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