This mornings announcement of a 15 year PPA with Newcrest Mining covering 55% of the output from the proposed 400 MW wind farm at Rye Park NSW is very positive. Demonstrates that the development pipeline has a number of well advanced projects which hopefully excites potential purchasers as IFT seeks a knock out takeover price.

This is a large project - Snowtown 2 which TLT sold 12 months ago for an enterprise value of $1.073 billion was 270 MW. The comparison is somewhat simplistic but does give a fell for the overall context.

I am surprised the NZX announcement today wasn’t flagged as Price Sensitive.