It is a 1 in 50 year event. Surely renewables have got to have a backup for that. Or are renewables not supportable and do they fail disaster recovery plans, business continuity/ business disruption plans? Insurance companies will have a field day not to mention law firms, private equity raiders and insolvency practitioners IMHO but pls DYOR.
I mean there seems no contingency for renewables as part of the energy mix. 50% like the South Australian target may go the same way of the SA politicians that support such a crazy plan without any disaster recovery.
Like the fairweather friends in California, Enron, IFN was a fairweather company but when the weather turned, the failsafe mechanisms were non-existent.
IFN Price at posting:
80.0¢ Sentiment: Sell Disclosure: Not Held
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