Flex three numbers and pick a customer mix. The cost gap to the United States, the unlevered yield, the payback, and the applicable thesis update on the right. Companion to the synthesis brief; assumes a sub-200 megawatt build at a Hunter site with stamped grid capacity. Indicative model only; refer to the brief for the full argument.
Capex base AUD 50M per MW (powered shell) plus AUD 18M GPU layer at Blackwell-class pricing; grid-wait carry at 7% WACC. Revenue rates: defence and AUKUS AUD 4.6M, federal civilian AUD 3.8M, enterprise AUD 3.2M, merchant AUD 2.7M per MW per year. Spot fill at 65 to 85% of anchor rate by segment.