Agree that refinancing in a subdued market may be a good choice....

Agree that refinancing in a subdued market may be a good choice.

I am not so keen on using the 100m cash for 2nd hand wind farms....1. problem being with acquiring many of the current WF's up for sale is that they are bundled into PPA's already... which limits the immediate value/return factor and 2. I am not keen on leverage extending too far again - otherwise we could end up in expensive debt deals again.

IFN still have a few prospective solar sites at planning stage... but as discussed already - without a battery - these projects are dead in the water... and likely single charge/discharge opportunity is inferior to wind/battery combination. You pointed out - Capitals solar installation has not been repeated at any other location (but if they added a battery there too.....).

My current thoughts on where to next are
1. Batteries... one at each installation will eliminate many problems with grid... and also provide arbitrage etc
2. PH - LT versions of 1.
3. Capital lite WF - increase base generation to make use of our firming assets.
4. Offshore WF... Halliade X!!!! best opportunity to go BIG - mentioned before the benefits of lower transmission distances - think direct into Melbourne or Adelaide by as little as 40km of transmission + connect to a grid where demand is actually present = less loss... offset by political uncertainty / installation uncertainty (but there can always be a first for the southern hemisphere right???)
5. 4Mw onshore WF... Flyers Creek being prime option to commence - I feel if we are to add direct assets to balance sheet (and take on debt) - make them class leading assets to make the most of their effective life.