Ann: Appendix 4C - quarterly , page-8

Another quarter where the "other working capital" exceeded significantly "receipts from customers".

If it is solar and wind equipment to be installed to make profit, how come the receipts are always less? Are they giving it away for free?

I also noticed they did not mention the the number and approximate value of RECs. Do they have more or less of them?
This "financial arrangement" where the company is borrowing against them, because they do not like current market price, amounts to speculation. Their future value could end up being less than now and meanwhile you have to pay interest on the borrowed money that is further eating away RECs value.
Why not just sell them, at least the accounts would look a lot more respectable, as Gerry pointed out.
They are always coming with these explanations to excuse bad red numbers. Do not tell us what if , just make the numbers black, then you do not need to look for excuses.