Financing Options and timetablesA PP may be in order if the banks are slow in coming to terms on the financing needed on the schedule to which MPV and DB are committed. I seem to recall that SWY had to pillage its equity to get financing for Renard, and that was with Quebec as a partner. "High risk" financings seems a tough sell in the banking community; the last round of PP took me a bit by surprise, as I thought DB and PE were doing a good job of establishing credibility and making the project palatable for the bankers.
MPV has a schedue to meet per its contract with DB, the calendar pages continue to turn, winter roads only run once a year, and if the bankers drag their feet then they will be left behind, as the PP route is a perfectly feasible option for MPV, although it is not particuarly beneficial to the Little People (us).
PE is taking the route which is best for MPV as a company, which may turn out to be not necessarily optimal as a community of shareholders.