Cash grants? Cash grants, especially old ones that have already been used to reduce debt, are not especially relevant. If there is cash, and there is cash in escrow for specific projects as well as working capital, they only feed into a buyout price on the basis of NET DEBT.
Cash grant money for Yabucoa will reduce the construction cost...in essense it will go to capex. And what counts for Yabucia, for a buyer of WND, is the 20 year contract to sell Puerto Rico power & Green Credits.
WND owes a lot of money, more than $3 per share in my count. In my view the cash flow from the projects plus the value of US tax deductions will make a buyout come in at more than twice the debt.
But shareholders only get the total buyout cost per share minus the net debt share.
So, April, I don't call you names and I am trying to be realistic, so why don't you tell me where you found out that a German Strategic has gotten aggressive in its quest to buy Western Wind? And what does that mean? Have they tabled a high non-binding buyout offer from round one of due diligence?
And guys, calling people names, instead of refuting an opinion with facts, isn't the way to convince people you are correct.