awindenberger

Robert, I'm trying to argue that I think the UK assets are worth more than $547mil. How did you come up with the $1.50/w number for the sale? Based on the CAFD those assets produce, it seems like they might be able to go for more than that.

Robert and others, I've been thinking a bit more about potentialTERP moves, specifically the potential UK sale. I've pieced together the following info from previous posts here, and TERPs 3Q15 10-Q: UK Assets: 365MW Previous debt: $271mil Previous Est annual CAFD: $45mil (est based on TERP note that UK assets generated 20% of total CAFD in 2015. see p 40-41) After Refinancing Debt: $475mil CAFD Est: $25mil ($45mil minus $20mil per 3Q15 Presentation) Based on the above, doesn't it seem like they could be sold for quite a bit more than $1.50/W? Based on the numbers below, it seems like it could be argued that someone would pay up to $700mil for the company, which would generate $225mil cash for TERP. Certainly, it seems likely that the assets would be worth at least $600-650mil. Unlevered Assets 700 700 700 Debt 0 271 475 Equity 700 429 225 CAFD 65 45 25 Return 9.3% 10.5% 11.1% Am I missing something here?

How do you figure this saush? The $1.75 announced in July was predicated on the Vivint deal happening. I bet TERP will pay $1.60 total in 2016, and likely start off with a raise to $1.50 for the current quarter (so $.375 quarterly payment).