RE: RE: RE: RE: RE: CCAAHuh !!!!
I never said anywhere BC Hydro wants clean power. I would say BC Hydro wants free power.
There is now a two year glut of wind turbines on the market. This is a remake of the gas IPP market
of the late 90's when buffoons from Wall Street thought that by tying up gas turbines they could control
the IPP deal flow. Guess what, only a buffoon from Wall Street or Bay Street could think tying up
depreciating assets can hold value. You can buy the EF turbines for $750,000 US per MW or brand new GE 1.5
SLE turbines for less than $1 Million per MW which is $600,000 per MW off of sticker. The wind turbine shortage was
an artificial bubble not any different from the housing and stock bubble we all just lived through. BC Hydro must let
EF break their old EPA and issue a new grown up version with current prices rather than the adolescent EPA pro
forma version that Death First signed two years ago. As I said before I hope the new EF team is run by astute
business people rather than buffoons from the utility or corp finance world. The lower turbine prices is more than
offset by the increased cost of capital. There are less than a dozen balance sheets in North America that could tie up
these Vestas V90's, but if the legal staff at BC Hydro does not allow the weaselly 8 Canadian cent EPA to die its
rightful death, there will be no buyers for this project. In this regard I accept the sublime message of your
posting. There is also some good tax treats available to a Canadian bidder.
WG