RE: RE: RE: RE: RE: RE: So it seems .............. Your thinking is correct but I also believe you should value WND at something more like 20 times earnings since that's the expected life of their projects, so this would be closer to $3.20 pps, minus some kind of discount due to reduced tax credits at some point (for any PTC projects). We would also need to include the net income from their other project currently under construction.