This is nothing more than cheap political point scoring. Look at the quote “The deal struck with Carnegie basically says they can spend $16 million of tax payer’s money, generate 1 megawatt of energy for one year and then leave.”
I mean come on. The 16 million gets Albany infrastructure that enables a brand new industry to grow. One megawatt of power is bugger all. The “hope” of building a 100 mw wave farm has so many hurdles to jump that even considering any issues with it now is just a mute point.
If the ceto 6 is successfully deployed for a year watch the money flow in and any issues will be solved.
Synergy is posturing for the best deal possible for them and rightly so. Who knows the government might foot the bill for new substation, poles etc. but synergy won’t stand in the way if push comes to shove. Remember this “The West Australia government owned electricity provider Synergy is making a belated move to meet its renewable energy target obligations, reportedly bringing in a Dutch investment fund to help bankroll investments in new wind and solar farms.”
This is all storm in a teacup stuff. There will be a lot of issues to work through over the next two years. Those mentioned in the article will be overcome.
CCE Price at posting:
3.8¢ Sentiment: Buy Disclosure: Held
