Liking the recent news here,
which is helping the fundamental picture,
and hoping the bottom is in by now.
Questions, as I try to read the tea leaves:
a) How much concern for the considerable debt levels? It appears to be a very big issue, with bankruptcy risk discussed a lot in the press.
b) Are the financial mechanics of the yieldco structure impaired by the dividend levels they (TERP and GLBL) are paying? One article opined that if they could not finance projects at certain favorable rates relative to the market (because of their high payouts), that this would restrict them. Are they beholden to certain payout rates like an MLP, having to pass through most of the profits to the shareholders? I'm confused on this issue regarding how the yieldcos operate.
c) Why would the SUNE management destroy the independence of the TERP board as regarding this recent shakeup? This seems to break the business model. Also trying to understand this issue better.
