RE:RE:ATM Equity Program12 million shares would represent about 5% of outstanding stock. Not much. As this company puts on more weight, it won't be a high flyer. But for a utility, it will look just fine for some pension/dividend funds.
But when take other forms of financing like debt it can begin to look scary. $7-9 billion investments required over next 5 years for 14GW capacity. 3GW financial close in the next 2 years.
And who knows how many more projects will be acquired in the meantime.
But the company says solid growth in EBITDA is to be expected, even with the large debt.