Going for a run, page-30

@Researcher101, I have used the ~A$2.5m / per MW as a back-of-the envelope valuation measure for the capacity of a wind portfolio. Last week, as an example, Innergex (a Canadian renewable company) paid C$315m for 131MW in France. This equates to a valuation of ~A$2.4m / per MW, with no development portfolio.

IFN has 550MW capacity, at ~A$2.5m per MW, this would value the company at A$1,375m deduct $550m in debt, implies ~A$800m in equity value vs. current market cap ~A$500m. So blue sky valuation is 60% higher, or ~A$1.00 per share (and this ignores the development portfolio).

In terms of MWh, this is the price being received for generation. I don't know what the prices are in France, but I know that IFN is benefitting from stronger electricity pooled prices in Australia (http://www.aemo.com.au/Electricity/Data/Price-and-Demand/Average-Price-Tables) + renewable energy certificate price (http://greenmarkets.com.au/resources/lgc-market-prices) such that FY16 will be a pretty strong year (enabling it pay down debt, commission new wind / solar farms etc.).