Ann: FY24 Half Year Results Investor Presentation, page-13

Here is a quote from an LIC newsletter pointing to the potential that companies like GNP have. They say the network build is equal in value to the low- carbon investment projects themselves. Personally I think that some of the project values include the necessary network build values - certainly the network link to the nearest trunkline or substation.

“Something that's maybe a little bit less visible, a little less unknown, but it's very important for us nonetheless, every euro that is invested in low-carbon energy will require an average of an extra euro of investment in the energy networks, the distribution networks…and we believe that public budgets will not be enough to bear this alone. For example, the high-voltage network Australian project, the PPP [public private partnership], is a great illustration of the trend that we're seeing” Xavier Huillard, CEO, Vinci SA [one of the world’s largest construction companies]