If we raise at 20, the additional shares for 720mil equity raise...

If we raise at 20, the additional shares for 720mil equity raise will be 3,6 billion.
assuming we have something around 2,6billion (after the raise of 20+7mil) we would end up in a total of 6,2billion to 6,5 billion.
so dilution will be somewhere between 70 and 75%

the cap in SPP will help not much to prevent your dilution. 16ct is a good price but max of 30k is only related to bigger holders pro ratio and even wont cover a fraction of their dilution.

so ether purchase more as long as it is in the 16-18 range or digest the dilution with the view on the bigger picture:

once the raise is done, risk is significantly limited. FID will „automatically“ be agreed upon with raise.

so then it will be execution of the construction, and „simple“ build it (for sure it is not simple)

very good prospectus in my eyes, but it comes for now at a hefty price for me (because of dilution)