OTCPK:APCFF - Post by User
Comment by
Art365on Feb 01, 2013 10:48am
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Post# 20924016
RE: The Florida Properties..........
RE: The Florida Properties.......... From a NBF report dated November 6, 2012:
Lake / Auburndale – Recall, ATP had previously guided towards a substantial decrease in
cash flow from its Lake and Auburndale projects in Florida after their PPAs expire on July 31
and Dec. 31 of 2013. In 2008, the company’s Pasco project (a similar sized gas facility in
Florida) signed a tolling agreement providing for ~US$4 million per year in cash distributions.
The company now anticipates that potential new PPAs at its Lake and Auburndale projects
would not individually achieve a better result in the near term than that of its tolling
agreement with Pasco owing to continued recessionary impacts in the Florida market –
suggesting an ~85% reduction from its previous guidance of ~ US$30-34 million for Lake and
US$25-27 million for Auburndale. Of note, we had previously discounted our long-term
contributions from these projects by 50%.