In another words the PR a few months ago by LLEG
That's not true. LLEG is planning to team up with Konarka to install ~2MW of solar on the current Natural Gas plant.
Can you find the PR that says exactly that?
They will manage their projects and see them through to completion.
Of course they will, else no project management fee.
They've also stated that they intend to be the 100% equity holder of the Susanville, CA plant.
And at one time they stated or at least implied they were an equity holder in Berlin. Too bad this forum doesn't have a search function. I would've challenged you to find one post in the 2006-2008 time period claiming LLEG had no intention of maintaiing Berlin ownership.
What's that... they couldn't handle the loan for 35% ownership or $43M off the starting $125M cost? Why would a company previously under investigation for fraud, with $2M in total assets, qualify for a gov backed loan of $20M for Susanville? Disregard the budget cutting fever in Washington, possibly drying up a lot of these Fed green funds.
As for Susanville, look at it from the viewpoint of Renergy. They originally agreed to sell their assets in return for special preferred stock convertible in 1 yr(?). Would you as Renergy entered into such a deal, with no guarantees of ever getting your money? You would just blindly accept the common shares would be cashed in at 0050 or above one year later? At the very least you would have a clause included where LLEG was obligated to make up the difference in stock value vs sell price in cash. Cash they are not likely to have. Those 700M authorized shares are worth $1M at 0015. My guesstimate as to what Renergy had in the Susanville site (e.g. purchase price + land leasing) was $3M.
The only project alive is New Bedford. It should be worth a $5M project management fee in another 3-5 yrs. Any other viable projects?
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