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Robert Dydo  

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  • Canadian Solar And A Yieldco [View article]
    It is not an easy process for sure. The path is not defined. I used SunEdison as it was the closest one resembling CSIQ, a developer. I wrote the article hoping that investors will understand that company is not having problem earning money, but it will be accounting for it differently. Canadian gets many abuses as is, so this was an attempt at prevention.
    Apr 6, 2015. 09:40 PM | 1 Like Like |Link to Comment
  • Canadian Solar And A Yieldco [View article]
    I could not find anything pictorial to improve the story, I hope I can reach most with it, but not all.
    Apr 6, 2015. 07:40 PM | Likes Like |Link to Comment
  • Canadian Solar And A Yieldco [View article]
    Hi John, I think they said they will not recognize it "until the conditions set forth in the SPA are met and the share transfer is completed." Not sure what those conditions are, but based on the language and the date of April 1st, it is not happening in Q1, imho.
    Apr 6, 2015. 05:50 PM | Likes Like |Link to Comment
  • Canadian Solar And A Yieldco [View article]
    Thank you for reading it, and glad to be helpful
    Apr 6, 2015. 05:47 PM | Likes Like |Link to Comment
  • Canadian Solar And A Yieldco [View article]
    This does not work like this. Think of yieldco as company A, which is owned by CSIQ, think of initial project portfolio as company B, which is also owned by CSIQ. CSIQ owns 100% of both.
    Company A sell shares during IPO, and buys interest in company B with proceeds. The sale of shares of company A adds new owners to company A, reducing CSIQ ownership to say 70%. Proceeds from selling shares of company A buy interest in company B, adding ownership to that company, reducing CSIQ to 70% ownership. Now CSIQ owns less of company A and company B.

    Company A is a reporting entity for company B, and CSIQ is a reporting for company A, due to majority of ownership in it.
    Yieldco IPO is not a spin off to new company. It is sale of the equity in specific portfolio of projects only.
    I hope this helps.
    Apr 6, 2015. 11:59 AM | 4 Likes Like |Link to Comment
  • Canadian Solar And A Yieldco [View article]
    Presentation will be made on May 18th. SunEdison provided for really good explanation how they did it. You may want to check sec.gov for SunPower and First Solar to see what they are doing. I personally did not check their formula, because their joint venture ownership of future yield company would be de-consolidated from their balance sheets, as each would have minority interest.
    There are more yield companies out there but the SunEdison model seemed closest to Canadian as the organization.
    Apr 6, 2015. 11:47 AM | Likes Like |Link to Comment
  • Canadian Solar And A Yieldco [View article]
    How the company is going to execute transition to yield is a guess, I call my guess a speculation. What is a reliable information when reviewing opinion?
    Apr 6, 2015. 11:14 AM | 1 Like Like |Link to Comment
  • Canadian Solar And A Yieldco [View article]
    Yes, this could be difficult period. The stock seems to be selling off today, not sure why this company gets little to no respect. I can see abuse of it when EPS is adjusted for yieldco transactions. I hope investors are ready for it.
    Apr 6, 2015. 11:12 AM | 1 Like Like |Link to Comment
  • Canadian Solar And A Yieldco [View article]
    Thank you for this detail, I hope this can be confirmed soon as well.
    Apr 6, 2015. 11:09 AM | 1 Like Like |Link to Comment
  • Avoid Yingli Green Energy [View article]
    If I was, that would be disclosed.
    Apr 5, 2015. 10:24 PM | 1 Like Like |Link to Comment
  • SunEdison's Wind Ambitions Will Hold The Company Back [View article]
    I think there is a logical error in stacking up the efficiency of a solar cell against the technological profile of the windmill. There is nothing finite about wind power technology just because it is a mechanical design versus the photovoltaic effect of a chemical/ physical composition of a material. Consider the design of the combustible engine or wheel in last 50 years. Wind turbines have plenty to go, and this is only a beginning. Now your graph is old, and the fact you are using the price of $0.74 per watt while cells are at below $0.30/w signals you are not that familiar with current costs. If you are not familiar with costs how can you argue cost benefits? Second, should you not explain how either cost compare to produce one kWh of energy? Your graph compares apples to oranges.
    Finally your article is not conclusive, offers little to no facts to say why in fact SunEdison should not invest in wind. Where are figures that lead the reader to this conclusion?
    I would suggest research subjects of your articles in depth. In result, you will find completely different outcome than many of your writings suggest, including this one.
    Apr 5, 2015. 06:27 PM | 4 Likes Like |Link to Comment
  • SunEdison's Wind Ambitions Will Hold The Company Back [View article]
    Interesting subject, but I have doubts reading this article, that author understands a lot about the topic. Solar BOS just recently is becoming comparable to wind, but wind is not done on cost reductions. Showing some ancient price line for solar cell to operating cost per kWh of wind generated power is not going to make the point that SunEdison made an error. In fact that price is ridiculously high for solar cell's watt in this image. In general terms wind is still cheaper than solar, and it has double efficiency factor at its high end and triple at the bottom end of the scale when compared to solar. In fact this is the best way for SunEdison to generate a lot of revenue from the same MW footprint, and specially beneficial for its yield co: TERP. This is why last week TERP bought another 521MW of wind assets, now they have 50% split with solar. Reason? It is producing more revenue, more CAFD.
    Author should not forget that price of the module is only a part of the BOS.
    Just this link from Bloomberg can help to understand why TERP and SUNE are hoping to have wind assets or/and develop them.
    http://bloom.bg/1DCqgXY
    Apr 5, 2015. 04:04 PM | 1 Like Like |Link to Comment
  • Avoid Yingli Green Energy [View article]
    I think that medium bond I described as paid , actually may not be paid and it is due on May 3rd. A default if it happens would be a reply of LDK and Suntech scenarios. I am not sure why would anyone call this attractive or good, in those conditions. People need to leave and stay away until this is sorted.
    Mar 30, 2015. 10:20 AM | 3 Likes Like |Link to Comment
  • Yingli Green Energy: Down, But Not Out [View article]
    I cannot speak for George, but I did not miss the link. I do not believe for someone to publish a view and in conclusion send you via a link to another location to prove the point. This tells me that author has no idea why YGE still looks like good investment. Should I not read in the article what makes YGE a good investment? The thought is as the company's shipments increase over the globe? Have this person heard of guidance? YGE guided 3% growth, how is this going to improve revenue if ASP drops by 6% in 2015 based on currency fluctuation? Article is a cookie cutter write up as one example of many articles on solar lately, full of errors and lacking "analysis" with dubious messages. How can someone recommend buying equity in the company using unidentified reason? I thought SA was about quality in their editorials, not this time. It is not the author's fault. He is one of at least four people who mass produce articles on solar daily with the same result. If SA reads those comments I would suggest have someone who knows solar to edit solar articles, so unimportant porridge does not clog up this medium. I already stopped reading couple of names for this reason. Lack of facts, reprints of news releases, is this investment analysis or rewrite of the conference call and news?
    Mar 29, 2015. 11:26 AM | 3 Likes Like |Link to Comment
  • Yingli Green Energy: Down, But Not Out [View article]
    I would like to know how is the bottom line going to grow by 77%?
    Mar 28, 2015. 07:07 PM | 3 Likes Like |Link to Comment
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