lm 6000 swap louise ,
a couple of weeks ago we bought an option on four more lm 6000 ' s for a jano 2 delivery . the intent was to sell our 4 julyol machines and recognize approximately $ 5 mm for this " time swap " . we believe that we are in a position to execute this swap ( delta power is at the table ) , but during the past two weeks we have received very strong tolling bids ( merrill lynch , duke , constellation ) for the lv project that imply a $ 20 mm value to the project but require a commercial operation date of sepo 2 . cod of sepo 2 requires early turbine delivery . we are therefore leaning towards canceling the turbine sale / repurchase in order to go for the bigger prize . it will require finalizing development , epc contract , tolling agreement , finance plan and internal approvals by may 1 . i am recommending that we go for it . if we are not able to pull it off , i am confident that the high bids for these machines will still be there .
chris
lm 6000 swap
louise ,
a couple of weeks ago we bought an option on four more lm 6000 ' s for a jano 2 delivery . the intent was to sell our 4 julyol machines and recognize approximately $ 5 mm for this " time swap " . we believe that we are in a position to execute this swap ( delta power is at the table ) , but during the past two weeks we have received very strong tolling bids ( merrill lynch , duke , constellation ) for the lv project that imply a $ 20 mm value to the project but require a commercial operation date of sepo 2 . cod of sepo 2 requires early turbine delivery . we are therefore leaning towards canceling the turbine sale / repurchase in order to go for the bigger prize . it will require finalizing development , epc contract , tolling agreement , finance plan and internal approvals by may 1 . i am recommending that we go for it . if we are not able to pull it off , i am confident that the high bids for these machines will still be there .
chris