I haven't invested, but am having a look currently. The listed entity seems to make P&L based on the movement in fair value of the underlying solar assets (which are held in wholly owned subsidiary companies), meaning the huge fall in renewable power costs since their plants were constructed has lead to large falls in future electricity prices, leading to decreases in the value of uncontracted PPA cash flows over the past fews years.
They could become profitable if future electricity prices stabilise, reducing the movement in asset valuation and making the business profitable because their PPA revenues exceed debt obligations and running expenses. Electricity futures seem to be the big risk here, hence why I am looking for further info on this.
NEW Price at posting:
82.0¢ Sentiment: None Disclosure: Not Held
