Critique the use of CDLs existing weighted average cost of capital for its venture into the solar power generation industry, and hypothesize the impact on the discount rate for this venture. No computation is require, and your answer should not exceed 300 words.

City Developments Limited (CDL) is a leading global real estate company. Listed on the Singapore Exchange, its income-stable and geographically-diverse portfolio comprises residences, offices, hotels, serviced apartments, shopping malls and integrated developments. Based on your research using CDL's annual report, S\&P Capital IQ database, Monetary Authority of Singapore and other reliable sources, you noted as follows: Information relating to CDL Information relating to Singapore Government Securities Information from other sources Beta of green and renewable energy industry =1.59 Long-term inflation rate =2.0% Market risk premium =4.5% Corporate tax rate =17% At the recent annual general meeting, CDL's chairman made the following remarks: 'We are well placed to navigate the evolving sustainability landscape, and CDL intends to venture into the solar power generation industry next year. This will help us achieve our net zero operational carbon ambition by 2030 , and enable us to raise additional funding with the issuance of green bonds