RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Pipeline SaleI don't know enough about the market or the project to comment intelligibly but it looks good on paper.
I think the BC credits would take the form of marketable BC LCFS credits https://www2.gov.bc.ca/assets/gov/farming-natural-resources-and-industry/electricity-alternative-energy/transportation/renewable-low-carbon-fuels/monthly_credit_market_report_-_2021-02.pdf which adds an element of market risk to the grant.
Any project built on government largess is cause for concern, I'm sure the generation of credits is a majority of the cashflow given the volume of production in relation to the volume of cash, but I think in this era all available sources of cashflow need to be considered. Look at the companies doing a-ok with windfarms or solar farms built in Ontario for instance. But it can go the other way, too.
How they fund it will be a big part of the equation for shareholders. I'm happy to have the clarity: TWM often feels like a financial black box, and I think there is something to be said for improving the existing dots on the map, not increasing the number of dots on the map. But measuring TWM's baseline feels like it has been an exercise in futility: the BRC barely gets a mention in the press release. I do think 2021 could be a good year for TWM, but more than that I'm hoping for the 'optimize, expand' TWM I bought into that has brought PGR to nameplate in a year.