AFR report today discusses potential sale of windpower assets. Wind Power is in very high demand. Going rate is betwen $3m - $5m per megawatt. AFG have 3,500 Megawatts although only about 50 Megawatt is fully developed.
Sources claim the wind power assets would be worth around $2 billion all up as is although the fully developed portion probably only about $150m. The book value of these assets is considerably less than this.
In my opinion, a sale of these assets could potentially eliminate their entire $1.1 billion short debt problem and put AFG back on track. Even if they sold out for half the price at $1b it would go a long way toward solving their problems.
Any comments?
Von.
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