Yes, fresh players are entering the battery market with stand-alone projects, expecting to scoop up unsold volts for free that would otherwise be spilled - to eat the lunch of variable renewables, notably solar. W + B pairings defeat this if the battery is scaled correctly.
Your capex estimate for Flyers Creek at ~$300m is a little high. On last year's prices, IFN should be able to do it at $1.5m a Mw, or about $215m. Its cash of $140m and free cashflow would just about match that capex over 18-24 months of construction. Perhaps a modest addition to debt against a larger asset base.
Planning permit variations may allow Flyers to be upscaled: bigger turbines on taller towers for more consistent and larger output plus higher capex.
Ash
IFN Price at posting:
55.3¢ Sentiment: Buy Disclosure: Held
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