The project is good news &, thanks to a Government subsidy, should succeed.
That is a statement of reality. Any switch from fossil fuels to renewables that can stand alone on economic grounds is welcome.
"The government will pay an expected levelised price of $75/MWh, and no more than $78/MWh.
This price, however, appears predicated on the company winning a $110 million financing from the federal government, which has been promised by Canberra before last year’s election and reinforced in a tax deal with Nick Xenophon earlier this year.
The cheaper equity provided by the government means that the cost of generation will have been cut sufficiently to meet that price negotiated by the state government."
