ceto emigrating, page-22

Spot on Justintonation.

Dis, i agree with your figure of $25mill instead of $37mill but in the absence of any other grant money (fed or WA), I really think CWE will ditch the Garden Island site in favour of an international one, most probably Reunion Island (but only after another deal has been struck).

Reunion offers $500-600MW/h as opposed $150 in WA. Reunion has a $5mill grant, with no 3for1 strings attached. On the basis of a $36mill, 5MW project at Garden Island, CWE would only utilise $9mill on the 12mill grant.

That extra $4mill is worth squat up against the financial and political clout of EDF in a French location. Once a deal was struck, it would be impossible to choose Garden Island over it.

As for Investec, sure, they could strike a deal for the Garden Island site, but without more grant money, I have no doubt they'd prefer an international one (and the detail of their original $250mill seems to have excluded the potential for a WA site).

In my dreams I imagine the SA govt coming up with $50mill for CWE so the SA govt can go head to head (side by side location wise) with the Vic govt with competing wave energy technologies. $50mill is all it would take to get the Investec money, they'd also get a manufacturing plant in Adelaide to spruik (countering the car manufacturing layoffs) and make a mockery of the REDP decision. Ahh.... go to sleep...sleep....sleep.