Wondering what HCs thoughts are on EA advising "Genex that it will not be in a position to reach a positive investment decision on the basis of the long term energy agreement structure as outlined in the Term Sheet".
I read that as meaning EA won't commit to the SPV "equity investment" as they want to renegotiate the length of the storage services agreement?
I'd assume EA would want to shorten, not extend the length of this agreement? Think I read on here that this was meant to be a 30 year timeline (could be wrong)? I also note the 2018 Term Sheet announcement refers to a period of "exclusivity" between GNX and EA. Does there come a point when that expires?
renegotiating this long term energy agreement would surely have an impact of the servicing of the project's debt, and thus affect any potential future GNX dividends?
I am also wondering if EA is signalling for some policy direction (i.e some stability) from the state, noting that the project is well supported across the political spectrum...
would be good to hear others thoughts on this...
anyway, let's see what next week brings.
cheers,
Wondering what HCs thoughts are on EA advising "Genex that it...
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