In regards to GNX... if/when they get Kidston PH up and running (or even turning soil) - then I would be more likely to believe that they could then commence buying a pipeline of PH developments.
Question will also be how much they stand to make from the PPA deal if it does go ahead... will there be sufficient cash flow to reduce the debt that will come from the development of Kidston, what will the target leverage be... and will they get a credit facility on top of this debt to purchase such a pipeline? Or will the hand go out to shareholders for a CR?
As I see it right now, PH is capital intensive... how likely would GNX be to obtain contingent funding like they have for Kidston for another location - I know LT the government are keen to see PH become part of the grid stability/FCAS/baseline generator mix, but I am starting to feel that it will be the bigger players taking a direct interest in the sites rather than the current complications that GNX is having with EA.
Would love to say that IFN could be part of the PH movement... but we could build many step change wind farms (with big 4Mw+ turbines) +Battery then firming assets (then rinse and repeat) for the price that even Kidston PH requires. Still stand in saying that if the PH gets ahead... would love to see IFN involved in Stage 2 wind farm @ Kidston.
AGL and Origin may be of a scale to self fund decently sized PH projects though.
IFN Price at posting:
44.5¢ Sentiment: Buy Disclosure: Held
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