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.
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