And to add to the above post:
The Large demonstration had the following back of the envelope figures:
Investec: $250M
Grant: $50-100M
Size: 50MW
People (and presumably Investec) were quite prepared to accept $50M from the govt and fund the JV to the tune of $250M. Again this works out at $5M per MW
I suspect CWE will use Investec funds to complete the Gardner Island project:
- Investec gets their pipeline with a smaller commitment
- CWE gets at least a (small scale) commercial demonstration plant under its belt by 2011
- share holders need not be diluted under a JV arrangement
I think they should persue the Gardner Island project under the above arrangement. Its important to demonstrate the technology ASAP. A working technology that is fully costed is what companies want before they invest in the big projects.
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