Close to my thinking, baldy.A battery on every WF? Maybe. IFN...

Close to my thinking, baldy.

A battery on every WF? Maybe. IFN can certainly crunch the numbers to determine which of now eleven WFs would benefit the most from a battery, plus enjoy the ability to arbitrage the choice of which to charge or discharge when it operates two, then three batteries.

I am not wild about off-shore WFs. The engineering is harder, capex higher and maintenance more difficult. Europe has fiercely competing land uses, so off-shore makes sense. Any Oz offshore must compete head-on with desert WFs - I know which wins on cost, even with transmission losses. I see no reason why big turbines like Halide X cannot be installed on-shore.

My commentary around buying second-hand WFs is more to illustrate the breadth of opportunity before IFN. Their performance is known and they are priced on recorded output. What is the poorly-performing Macarthur WF worth? Not much! Adding a battery changes the economics and IFN knows as much as anyone about batteries. This uplift only works if one pays what a dud WF is worth as-is.

Flyers Creek (Orange, NSW) is certainly attractive, though construction could not start until CV-19 is sorted. Committing now is unnecessary.

IFN has plenty of dry powder. It can kick the tyres on all assets for sale and lob insultingly low bids. Every addition to its kit makes the business stronger and more reliable, more consistent.

We shall see.

Ash