"Gurin Energy awarded conditional approval to import low-carbon electricity from Indonesia to Singapore"
https://morrisonglobal.com/news/gur%...-to-singapore/
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"Gurin Energy awarded conditional approval to import low-carbon electricity from Indonesia to Singapore"
https://morrisonglobal.com/news/gur%...-to-singapore/
"The power generation is planned on the Riau islands and underpinned by 2,000MW of Solar Photovoltaic installed capacity and c. 4,400 MWh of battery storage, one of the largest such planned projects in the world."
Interesting, Riau Islands are a tough place to do business but good luck to them, looks like a win-win for all involved and hopefully IFT.
Confirms that IFT's two big bets (data centres and renewable energy) covering half of the company's assets are linked and thus so will be success. An increase in risk compared to what shareholders are used to.
https://infratil.com/news/cdc-indepe...-30-june-2024/
The metrics in this links Appendix Page 3 May shed more light
On the subject of making a 'range of guesses' around depreciation charges, I feel there is enough information in the Spark annual accounts depreciation schedule (SPK AR2023 p113) to make a pretty good informed guess. I have previously stated that for CDC (light on computer rack equipment that is largely supplied by the customer) I think this should be 40 years, based on:
Depreciation Category Depreciation Time Building 15-53 years Air Conditioning 8-20 years Power Systems 3-25 years Computer Equipment 2-8 years Internal IT System Assets 3-15 years
I am thinking the datacentre building, by far the largest capital value item, will have a life of 50 years, averaged back to 40 by the lower value shorter life power and internal IT equipment and the air conditioning. Non current assets at EOFY2023 (the time point used for setting depreciation rates) were $A5,762.3m. So 1/40th of that value is $144.1m
$342.9m = 'R-D' => Revaluation over FY2024 = $342.9m + $144.1m = $487.0m
That figure is considerably greater than the net surplus for FY2024 of $201.9m. This is fairly clear evidence to me that CDC made an overall loss on its day to day operations over FY2024 (even if they probably did make an operational profit over FY2023). But considering the build program currently on the plans and being executed, that is what I might expect in a business like this at its current state of development. Fortunately the 'future valuation' boffins descended on the accounts and decided that enough money would be made in the future to put an offsetting $487.0m into the income statement. That means there was no need to upset the Infratil shareholders about the operational performance of CDC. Nothing like some accounting spin to keep those punters happy.
And if you believe the funding strategy, slide 14 of the Infratil Capital raising Presentation, I would say none of the equity raised from Infratil will be going to repay CDC debt. I would say it is build, build and build some more from here.
I am not too worried about solving to find the derivative amounts in the equation puzzle. They should all come out in the wash as the build program rolls out.
SNOOPY