Well it sounds like they are seeing a very different set of...

Well it sounds like they are seeing a very different set of price forecasts from PWC to what I'm seeing. Sure there are covariance risks from wind assets, however NSW is by far the largest electricity consumer, and 1GW of additional wind generation has a much smaller effect on production-weighted average spot prices here than 1GW in other states.

Besides, a number of wind projects that are on the cards are likely to be delayed or canned altogether because of the economic downturn/assumed risks/financing issues. I would be surprised if we saw a flurry of wind projects come online in NSW much before Snowy 2.0, Energyconnect (NSW-SA interconnector), and Humelink/VNI West (NSW-Vic interconnector) are built. These projects are all slated for mid-2020s onwards completion dates.

I track wind and solar project across the NEM. The only committed new projects total a measly 473MW and aren't likely to have a big impact on Infigen's covariance risk:
- Crudine Ridge (135MW)
- Collector (227MW)
- Biala (111MW)

The rest of the current proposed projects are up in the air at the moment and could fall through for a myriad of reasons. Infigen's NSW wind farms have plenty of profitable life left in them and it's a shame the board have been convinced otherwise.