Thursday 25 May 2017
Wednesday 24 May 2017
Algonquin Power reaps the benefits of Liberty
On May11 Algonquin Power released it's quarterly results and it was better than a good report.Quarterly revenues were $558 million compared to $342 million in 2016 and cash provided by activities was $84 million compared to $53 million in 2016.More importantly adjusted funds from operations (FFO) was$208 million compared to $122 million in 2016.Adjusted funds from operations is on track to hit $900 million for 2017. And adjusted EBITDA was $255 million for Q1 and is on track to hit $1050 million for 2017
Liberty Utilities
Finally on January1, 2017 Algonquin Power acquired in full Empire District Electric.This acquisition was ongoing(getting regulatory approvals) for sometime and finally closed.It formed the backbone of their newly formed subsidiary called Liberty Utilities.On January 11,2017 Bakersfield II (a solar facility)achieved commercial operations. And in February Deerfield wind facility was added to it's stable.These two acquisitions added 160 MW of power.And on February15 another 50 MW of power was added by the Luning solar facility.These have all been added to Liberty Utilities.The total value of Liberty Utilities can only be guessed without a listing.
An earlier Workathon Blog
On December1,2017 my Workathon blog gave some of the details of the details of the Empire acquisition.It cost $3.2 billion plus acquired debt of $.9 billion and an estimated further $2.0 billion for future renovations.This blog has suggested that AQN get a listing on the NYSE and now it suggests that it get a listing on the NYSE for Liberty Utility.This is an excellent source of cash from a secondary equity issue;perhaps as high as $1 billion U.S. Algonquin Power can afford to sell off a 25 to 35% stake in Liberty and by doing it gain some liberty for itself (financially speaking).This money could be used to diversify and improve other facilities (including other Liberty facilities). use Workathon for business solutions ;use Workathon for business solutions ; use Workathon for business solutions
Liberty Utilities
Finally on January1, 2017 Algonquin Power acquired in full Empire District Electric.This acquisition was ongoing(getting regulatory approvals) for sometime and finally closed.It formed the backbone of their newly formed subsidiary called Liberty Utilities.On January 11,2017 Bakersfield II (a solar facility)achieved commercial operations. And in February Deerfield wind facility was added to it's stable.These two acquisitions added 160 MW of power.And on February15 another 50 MW of power was added by the Luning solar facility.These have all been added to Liberty Utilities.The total value of Liberty Utilities can only be guessed without a listing.
An earlier Workathon Blog
On December1,2017 my Workathon blog gave some of the details of the details of the Empire acquisition.It cost $3.2 billion plus acquired debt of $.9 billion and an estimated further $2.0 billion for future renovations.This blog has suggested that AQN get a listing on the NYSE and now it suggests that it get a listing on the NYSE for Liberty Utility.This is an excellent source of cash from a secondary equity issue;perhaps as high as $1 billion U.S. Algonquin Power can afford to sell off a 25 to 35% stake in Liberty and by doing it gain some liberty for itself (financially speaking).This money could be used to diversify and improve other facilities (including other Liberty facilities). use Workathon for business solutions ;use Workathon for business solutions ; use Workathon for business solutions
Subscribe to:
Posts (Atom)