This is a cracking interview - especially for someone not...

This is a cracking interview - especially for someone not familiar with the business.

https://theconstantinvestor.com/zenith-energy/

Here's some fun snippets:

Tell us about how the business works, the profit driver.  How does a contract work for you?  Do you pay for the building entirely and then recoup the money from the ongoing fee that you charge for the power?
Correct.  Yep, absolutely correct.  So as a BOO, so build, own and operate independent power producer, we, in fact, do all of the design, engineering, procurement, construction, operation, maintenance of our sites.  We are completely the owner of all of those assets.  We essentially sell kilowatt hours of energy to our clients on a contracted basis.


You’re really a financing business, aren’t you?  You finance the build and then pay it back over time.
We do, yes.  There’s a large component of that.  Our core competence is around project management, engineering and the IP that we apply to the way that we build and operate our power stations.

Margins?
Yeah, look, on a typical BOO contract you’re probably looking at a gross margin of circa 50% to 60%.
Right.  Is that coming under pressure at all?  Is there competition starting to drive those margins down or not?
Not at the moment, no.
Each time you do one of these BOO contracts, as you call them, you can expect that kind of margin and obviously, therefore, it’s going to add to your earnings.
Correct.