RE: RE: RE: RE: RE: Here you go It would depend on what their balance sheet looks like and how much cash they have on hand to fund construction. Having cash today is extremely valuable, and some companies and utilities prefer to not blow into all or even some large portion of their reserves. Even large utilities like Duke use long-term financing, but you're right that many large players fund construction from their balance sheet and wait until the project is operational in order to close financing and reduce their costs.