Connor Teskey: Yes. So well perhaps split that into two chunks. The one thing I would say about our 2023 pipeline, and as referenced in the supplemental, we see 2022 was our biggest year of development on record. We brought 3.5 gigawatts of new projects online. As we look to 2023 that number is sitting today, we expect to bring about 5 gigawatts online. The first thing we would highlight is of these 2023 projects, a large portion about 5 gigawatts in our minds is very largely de-risked at this point. It’s €“ a lot of it’s either under construction or it’s already fully contracted. And we often make the comment that funding is secured in a lot of these projects all the funding is already in the ground. We don’t need to contribute any incremental equity to get those projects across the line.
So, our confidence on delivery in 2023 is very strong. When you speak about the supply chain issues for us, we think about that probably beyond 2023, because our 2023 is very well wrapped up. And I think there is probably two dynamics to consider there. One is on a global basis we are really seeing the costs of solar modules drop significantly. In the past year or so we have seen them quoted as high as call it $0.40. Now, we are largely seeing that prices in the low $0.20, so not all the way back to where they were in 2019, but the majority of the way back. The one place where there continues to be some uncertainty in management of the supply chain required continues to be the United States. But the good news is there is with the benefits of IRA and the things we can do with our central procurement system, putting orders in ahead of time working with our key suppliers we definitely see the supply chain in total getting much easier to manage than where we were 6 or 12 months ago.
So it’s definitely a good news story from both an execution and an economics perspective.
Robert Hope: That’s great. Thank you.
Operator: Our next question comes from the line of Rupert Merer with National Bank Financial.
Rupert Merer: Hi, good morning. Just following up on the U.S. solar development question, can you talk a little about how the availability of grid interconnections is evolving and are you seeing increasing competition for interconnection spots?
Connor Teskey: Thanks, Rupert. It’s €“ appreciate you asking it, because it’s one of our favorite questions. The focus on grid connection and interconnection availability is certainly something that has grabbed much more headlines across the industry, I would say in the last 6 or 12 months. And as it should, as part of any development process you need to secure land, you need to secure grid connection and you need to secure permitting from there, you need to get equipment and EPC and a contract, but you need those first three. And with the amount of renewables going on to grids around the world, there is probably very few grids around the world that the value of high-quality interconnection hasn’t gone up in recent years. The reason why we really liked this question is, this is something that we have been focused on probably now for 4 or 5 years.
