WND Debt WND total debt before cash grants is $275 Million for Windstar and $24 Million for Kingman.
Windstar cash grant of $98 Million pays down 70$ MM and leaves $205 Million long term Windstar debt with $28 Million surplus which repays $22 Million corporate notes completely with $6 Million excess cash. Kingman $9.3 Million pays down Kingman by $8 Million to leave Kingman at $16 Million long term and $ $1.3 Million excess. Additional millions of not used contingency cash accounts get refunded.
So long term after cash grant is $205 Million Windstar and $16 Million Kingman. Projects in California and Arizona sell for $3.6 Million per MW completed which is 165 MW times 3.63 equals close to $600 Million minus $221 Million long term leaving 400 Million net equity. DAI and Deloitte said $375 Million net equity.