Spanish renewablesBack in 2021 a $900 million bought equity financing took place This would contribute to dilution.
Was this purchase even necessary?
The CEO says the company required a regulatory cash flow and also an entry into the European onshore market.
Then as some have pointed out, more dilution in 2022. What should have been done instead?
There were earlier comments that the company is using other people's money, and not funding coming from organic growth.
Want to grow, debt must be used. There will be critics for that also. The debt levels will increase for this company, that's guaranteed. What's it now? $7 billion. Maybe say $15 billion 3-4 years down the road.
Then there are those who are upset with Northland's selldown strategy. But selldowns are common practice in the industry to raise money.
Then those who are upset with the stock's decline. But Orsted is down bigtime also with little dilution at all.
Take the helm captains.