SunEdison to put 400 MW of upcoming solar capacity on sale; calls off Continuum buy
Though this not specific to Wind, however it is posted for a better understanding of the Scam in the works.
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LIQUIDITY CRUNCH
The fundamental reason why SunEdison is in distress globally has been its inability to raise as much money as expected by listing Terraform Global in Nasdaq this July. TerraForm Global, established as a yieldco to acquire renewable-energy assets in emerging markets, raised only $675 million by selling 45 million shares at $15 a share in its initial public offering (IPO), pricing a reduced number of shares below the original range of $19-$21 a share.
The shortfall triggered a slump in its share, which is down 65% since listing, and has put severe pressure on cash flow and liquidity. This in turn jeopardised much growth and acquisition plans, including Continuum, which were to be funded with the IPO money.
The yieldco model has become increasingly common in the renewable energy industry. Developers need capital for new projects, so they create a separate, publicly traded unit to buy assets once they're completed. The yieldco's function is to collect revenue from selling electricity, helping fund the purchase of more power plants.
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My Interpretation: The Yieldco essentially owns the facilities, on paper and SunEdison has thus paid off its initial investors, on paper, but only if they can raise funds from the sales of the Terraform Global sales of shares. They did not, thus they are now needing to liquidate other assets to complete that debt. In the meantime they are robbing other shareholders of potential profits in the way of future dividends. This becomes a snowball rolling downhill....... Just because the capacity is there to make profit on the sales of electricity, the demand is not there, (Lower PTC's or other national incentives, [profits]) thus the (new share) investors did not purchase at the desired price. Still having about 35% of the initial investors debt to repay, other assets sales was required.
http://economictimes.indiatimes.com/articleshow/49899154.cms?
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Maine as Third World Country:
CMP Transmission Rate Skyrockets 19.6% Due to Wind Power
Click here to read how the Maine ratepayer has been sold down the river by the Angus King cabal.
Maine Center For Public Interest Reporting – Three Part Series: A CRITICAL LOOK AT MAINE’S WIND ACT
******** IF LINKS BELOW DON'T WORK, GOOGLE THEM*********
(excerpts) From Part 1 – On Maine’s Wind Law “Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine if the law’s goals were met." . – Maine Center for Public Interest Reporting, August 2010 https://www.pinetreewatchdog.org/wind-power-bandwagon-hits-bumps-in-the-road-3/From Part 2 – On Wind and Oil Yet using wind energy doesn’t lower dependence on imported foreign oil. That’s because the majority of imported oil in Maine is used for heating and transportation. And switching our dependence from foreign oil to Maine-produced electricity isn’t likely to happen very soon, says Bartlett. “Right now, people can’t switch to electric cars and heating – if they did, we’d be in trouble.” So was one of the fundamental premises of the task force false, or at least misleading?" https://www.pinetreewatchdog.org/wind-swept-task-force-set-the-rules/From Part 3 – On Wind-Required New Transmission Lines Finally, the building of enormous, high-voltage transmission lines that the regional electricity system operator says are required to move substantial amounts of wind power to markets south of Maine was never even discussed by the task force – an omission that Mills said will come to haunt the state.“If you try to put 2,500 or 3,000 megawatts in northern or eastern Maine – oh, my god, try to build the transmission!” said Mills. “It’s not just the towers, it’s the lines – that’s when I begin to think that the goal is a little farfetched.” https://www.pinetreewatchdog.org/flaws-in-bill-like-skating-with-dull-skates/
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Hannah Pingree on the Maine expedited wind law
Hannah Pingree - Director of Maine's Office of Innovation and the Future
"Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine."
https://pinetreewatch.org/wind-power-bandwagon-hits-bumps-in-the-road-3/
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