A Considered View, page-11

The market demands,imo, clarity and certainty .

Until loans are drawn down to repay Slipform and EWC has clear pathway to pay those loans (offtake agreements in place in Indonesia in particular) then unfortunately this sp isn't going anywhere,again imo.

The Philippines is a different thing all together as its always been so that the electricity generated would be supplied to an under supplied spot market , however this is more risky than having an offtake agreement in place.

There are, imo, afew risk factors here that brokers and funds cannot recommend and/buy this sp until certainty is in place.

However we should be very close to having a few, hopefully all of these removed.

Lets hope so.

Cheers.