There is also the prospect that Bakrie as the JV partner...

There is also the prospect that Bakrie as the JV partner provides all or the great majority of the equity required for a project......or at least a guarantee of the same.

Can't see the funding partner being a VC imo. Project returns (irrespective of the debt/equity funding mix) simply aren't high enough for them to bother.....

I've done deals where the project (debt) financing is essentially 100% of the funds required - depends on the risk profile of the lender, their satisfaction with the ability of the project to generate the necessary cashflow to service debt repayment and the fact that they have as security a charge over 100% of the project.

I don't see the problems you see Rockist to be honest - though the low share price is not good for anyone - that can't be argued (well maybe DV sadly).

Time will tell Rockist?