So we will continue to monitor that and we’re, as you might expect, doing all the calculations and ensuring that, that information is front and center from the perspective of those discussions. I guess the last piece is just kind of looking at the overall short-term debt. And I think that beyond the working capital required for SCE, we are expecting all of that to normalize so that our interest rate exposure on anything related to SOFR or short-term unhedged rates should be much more muted as we get through the rest of the year, in particular because despite the fact that we do invest some of our capital in construction and development of assets, our ability to hit nonrecourse financing like the large RNG refinancing transaction that we did in Q4 is still there.
That lender market hasn’t loosened up. We are still able to get great tax equity financing using sale leasebacks, and we don’t expect the overall impact to be long-term.
George Gianarikas: Thank you. And then just as a follow-up, you talked a lot about scrubbing permits and other potential delays in your ’23 and ’24 EBITDA guidance. Can you also help us understand much as — much think is dedicated to discussing and trying to analyze movement in RIN pricing. And I’m wondering as to if you can help us kind of understand what your — how much exposure you have there, and how much we should be monitoring that and potentially handicapping your ’23 and ’24 EBITDA guidance based on volatility in that index? Thank you.
George Sakellaris: Well, you know that 50% of the RINs that we plan to generate for the year they are hedged. So the other 50%, we are on the market, and we sell them as when we feel the market is right. And we have incorporated the prices that we think we will be able to get in our guidance right now. Doran, anything to add?
Doran Hole: I mean, I think as you as you might expect, we’re heavily engaged in following what’s happening with the EPA and what adjustments will be made. And just like you, our eyes on the summer as to what will happen when they finalize the RBO, but we do feel confident in where we’ve kind of established our estimates for the year based on the unhedged portion at least.
George Gianarikas: Thank you.
Operator: Thank you. One moment for our next question. Our next question will come from Eric Stine of Craig-Hallum. Your line is open.
Eric Stine: Hi, everyone.
George Sakellaris: Hi, Eric.
Eric Stine: Hey. Maybe we can just go back to the 2024 EBITDA outlook and great that you reiterated that, but just want to just be clear. So if you’re thinking about backlog awards not yet signed plus the operating assets that you’ve not yet contracted, when you take that all together, is this something where you feel like you’ve got — or what is your percentage visibility into that number from all of those buckets? I mean are you — is it a high-level of confidence? Is there stuff that you still need to fill in? Or how should we think about that when looking at ’24?
George Sakellaris: I would say, it’s a very high-level of confidence because when Mark does his numbers, unless we are at the 70%, 80%, whatever it is in the pipeline, it takes up pretty much. Now, we feel pretty good. If something happen that certainly out our control is possible, but we feel pretty good that we’ll be able to deliver that number. Because when we established that number way back, I think we were a little bit conservative. We have a little bit, you might say, in the bag. And so that’s why even though we had some things happen to us, that number still stands and we feel good about it.
