Shareholders I have been a shareholder for several years, and Jeff answers all my questions. Call him. He said the following:
1. The $1 billion in savings is the wholesale cost delta between our PBJL price and the cost PREPA pays to burn fossil fuels in its energy mix.
2. Uncle Sam now pays for 40% of the project vs. 30% previously because of the new IRA Inflation Reduction Act subsidies for renewable energy.
3. Technology improvements in yield plus highest highest solar radiation on the island
4. Completely unique 2 to 1 DC to AC ratio, which means the solar farm runs at 80MWac peak for several hours longer than a peak of one minute of 80MWac if the ratio was the standard 1.2 to 1.
Battery stores the excess and sells at peak.
The Governor has written to the United States Senate and stated the language of the Tranche contracts are not financeable to lenders regardless of price increase