Vacant sites aren't that expensive. Kanmantoo was $31 million...

Vacant sites aren't that expensive. Kanmantoo was $31 million and that is considered a top 5% PH location.

Between new JV partners, existing key shareholders and a cap raise you can get the money easy. GNX has already proven adept at applying for and receiving funding from energy and infrastructure players. I'm talking on a time scale of a decade, though. We've signalled an intent to get involved in smaller-scale energy storage projects, in the interim.

How much we'll make? The deal has changed considerably, and the first 10-year rate has been fattened by EA to ensure NAIF have security. That was not negotiable given EA wanted exclusivity and were dropping from a contracted 20 years to 10 years and the SPV structure had to change for CLP to be able to tick it off. I'll have a crack at it, shortly, with a few scenarios yet to play out.

The situation with EA has become delicate and no, we haven't seen the full deal, including their involvement in PPA's for wind and solar. However, that is moreso due to EA having an absolute nightmare 2019 in terms of revenue. The deal was progressing without issue until October. It doesn't serve to dwell, only learn.

You're absolutely right, many players will press on and fund their own projects. PH is a long game.