Simple. They are different businesses at different stages of...

Simple. They are different businesses at different stages of their lifecycle.

TLT has

- Cash position, including net $455million after the Snowtown 2 sale (sold for $1.07 billion)
- 835MW generation capacity
- Over 80% of the revenue from assets is secured via long‐term contracts with high-quality counterparties eg 336MW Dundonnell which won the VIC state government's price auction has only recently started generating.
- Demonstrated ability to secure tenders and work with state governments on projects is considered invaluable.
- Significant price catalyst in acquiring the 1GW Liverpool Range Wind Farm and DA for 267 turbines
- Look likely to add a big battery to Snowtown, in SA. Interested to see what this means for the existing battery revenues.
- Cornerstone investors Infratil and Mercury NZ.
- A slick brand and a reputable team
- TLT received a takeover offer at $2.30 per share any however independent assessors advised against, valuing it up to $3 a share at the time.

Therefore, the short to medium-term potential to 3GW+ and a bright future working alongside key industry stakeholders.