gross You bring up a very good point, and why anyone who is actually running the numbers use those long-term revenue figures.
Jeff said that under normal wind conditions, and without the power line disruptions, their revenue would be about $15 million per quarter. Subtract $3 million of operating expenses, and you get a gross operating income of $12 million per quarter.
So what is $48 million of operating income worth to an investment fund? At a reasonable IRR, at least today's share price. Add in Yabucoa and the tax assets, and we easily get into the mid 3's. And a few sheckles for other odds and ends, well, you get the picture.
But the main thing is, with BEP backstopping us at $2.50, and lots of potential upside, the reward/risk ratio is about as good as it gets in this game.
I am in.