EDP Renewables: "We need to lay low with this type of president"
Trump, whose animosity towards wind energy has put the industry on edge, was a major topic of discussion at the summit, the first large gathering of industry leaders since he took office. Some of his policy priorities, they agreed, have generated significant uncertainty for the industry......some of the changes being proposed could curb the availability of tax equity and the amount of tax benefits for projects, increase the cost of debt, and ultimately drag down internal rates of return for developers.
Separately, please note that in the Wikipedia entry for China Three Gorges (CTG), owned by the People's Republic of China, EDP Renewables' parent company, Energies de Portugal is listed as a CTG subsidiary. Could this be accurate?
So if true, could it be that China in essence is helping itself to "Free Money" in the U.S. and feels that by avoiding President Trump it can keep its hand in the cookie jar, i.e., the one you and I fill with cookies every April 15?
EDPR is of course the supposed "Houston, TX -based" company that is hoping to erect scores of wind turbines in Aroostook County, although they withdrew their application in December 2016 for lack of transmission.
On page 10 of the 6/30/16 EDPR "Director's Report" financial statement available at the link below, it discusses that CTG assumed a 49% equity shareholding position in EDPR and then states that in 2015, new agreements were made and that these agreements are pending regulatory and other approvals (on 6/30/16) and thusly, they are not yet reflected in 2016 accounting.
Fair Use Notice: This website may reproduce or have links to copyrighted material the use of which has not been expressly authorized by the copyright owner. We make such material available, without profit, as part of our efforts to advance understanding of environmental, economic, scientific, and related issues. It is our understanding that this constitutes a "fair use" of any such copyrighted material as provided by law. If you wish to use copyrighted material from this site for purposes that go beyond "fair use," you must obtain permission from the copyright owner.
How stupid are we, with $20 trillion in debt, to be handing out welfare to foreign countries who don't like us and in this case who want to destroy capitalism? How stupid are we to let them destroy bucolic Maine in the course of draining the treasury? The answer is we are not stupid so much as completely ill informed by the media who are accomplices of the globalists trying to conquer America. We also need to identify and remove all our corrupt politicians and regulators who aid and abet these enemies, simply to line their pockets. Treasonous is not too strong a word.
Since China owns most of the U.S. Debt, as in the past unless Trump slams the door, it leverages that debt into places such as U.S. jobs. This is one of the reasons that TPP was so damn dangerous. Without TPP it becomes more difficult, but not totally impossible using other trading nations. All of these "FREE" trade agreements are dangerous.
Oil, favored by Trump, at least in Canada via the Keystone XL will provide a conduit pipeline for Canadian oil Owned By China. Oil rights purchased back in 2012-2013 time frame. Dakota Access also ties to that same Canadian Oil with China's ownership. Though the investments in Tar Sands aka Oil Sands is diminishing as the most expensive oil in the world, Fracking extraction with its 528 secret toxic chemicals and Well injection dumpings is becoming the option of choice. Though Oil and Coal have a higher energy concentration, they can with new technology and obtainable efficiency standards, this time around become the greenest energy. We have squandered to much in the past.
Kind of iffy right now for investors isn't it? Big money pulling out of wind and solar?? If China has ownership of some of these companies won't they steer in the direction of projects likely to be favored by Trump's administration?? Too much invested already to shift direction?? Some last ditch efforts to maintain the 'renewable' momentum?? Lot of weighing the zeitgeist of saving the planet??
Here is an article about a very expensive wind energy folly in New England, which had nothing to do with Trump, but had everything to do with Wall Street greed-is-good approach.
© 2023 Created by Webmaster. Powered by
You need to be a member of Citizens' Task Force on Wind Power - Maine to add comments!
Join Citizens' Task Force on Wind Power - Maine