RE: RE: auction: not foot-dragging In the Conference Call, Jeff explained that Rothschild asked interested parties to give tentative bid with and without Yabucoa going through financial close. He also said there is a huge difference in the price.
Because of the sunny conditions in PR and the good PPA, as well as the already contracted Green Credits that will be part of the cash flow, Yabucoa is the second most valuable asset that WND owns....once it has gone through financial close.
Now it is only a project under development and worth peanuts compared to after it closes. If there was doubt about that, the bids that Jeff told us about underlines it.
WND had no control over the bankruptsy of their inverter supplier. It had to find another supplier and redo all the plans and submit them for approval to the authorities in Puerto Rico.
Where did they drag their feet?
We are awaiting the approval to close the deal because the financing and much of the parts are in place and ready to do.
Yabucoa cash flow is worth up to $2 per share of WND alone (although a buyer will want to pay less), but maybe only a few cents a share in the Brookfield offer.
So please tell me where Management is dragging its feet and I will also get on their case, because I want to close the deal, at the best price, as soon as Yab closes.