REFRESHER ON YABUCOA VALUE From the independent appraisal, net value of 148MM. This is not to say that that is what we would get in an asset sale or spinoff, but that would be the value. Some of you will be quick to point out that there is obviously a loan associated. However, coupled with the tax credit, the release says it will add 148MM to the balance sheet. I interpret that as Net positive impact. Divide 148MM by 70.5MM outstanding shares and you will get net benefit per share of $2.09. I honestly would be fine with 1.25 to 1.50 for Yabucuoa plus the 2.50 for the rest from Brookfield, seems like a buyer would also be getting a deal at that price.
My two cents,
SuLtAn
News Release October 23, 2011
Vancouver, BC -- October 23, 2011 -- Western Wind Energy Corp. -- (Toronto Venture Exchange -- "WND") (OTCQX -- "WNDEF"), wishes to report the following project and financial updates and how these will relate to meeting the goals and objectives of the shareholders to reflect the DAI valuation, in the earliest possible timeframe.
Yabucoa Project, Puerto Rico
Western Wind Energy is pleased that all the necessary legal teams have been engaged to complete and close the project financing facilities for the 30 MW Yabucoa Solar Project in Puerto Rico ("Yabucoa"), before the December 31st year end. Yabucoa will add $148 Million to Western Wind's balance sheet and increase our production capacity to 195 MW.
According to the American Wind Energy Association and published in the October, 2011 edition of North American WindPower, Western Wind would be ranked No. 7 in size, if we were compared to Utility direct ownership of renewable energy facilities.