Plug Power Inc (PLUG)

[uksausage]

Here is the situation styraight from the 10K

"In connection with the consummation of the Walmart Transaction Agreement described below, the Company entered into a master lease agreement with Wells Fargo (Wells Fargo MLA) to finance the Company’s commercial transactions with Wal-mart Stores Inc. (Walmart). Pursuant to the Wells Fargo MLA, the Company sells fuel cell systems and hydrogen infrastructure to Wells Fargo and then leases them back and operates them at Walmart sites under lease arrangements with Walmart. The total remaining lease payments to Wells Fargo was $26.3 million at December 31, 2017. During 2017, the Company also entered into an amended and restated master lease agreement with Generate Capital (Generate Capital MLA) to finance the Company’s commercial transactions with Walmart. The total remaining lease payments to Generate Capital was $45.5 million at December 31, 2017. The Wells Fargo MLA and the Generate Capital MLA do not require the Company to maintain any restricted cash."

So we sell to Wells Fargo/Generate capital and operate on Walmart's property for them in return for which they pay us a power purchase Agreement fee.

Wells Fargo will get the ITC benefit and from what they said in the call the agreement lets us claw some of that back to us.