The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Nelson Ng - RBC Capital Markets, Research Division - Analyst
: So just to follow up on all the Texas questions. I didn't really understand the impact on Shannon. So you bring it down to 0. But like the net impact
for Shannon was about $14 million, right, like if you take your share and if you net out the revenues and the power hedges. So should we be thinking
that the net impact on Shannon is $14 million. But if you discount the cash flows, it -- the net amount of 0? Like how -- am I thinking about it the
right way?
Question: Nelson Ng - RBC Capital Markets, Research Division - Analyst
: Sorry, you're cutting off there. I can't hear you very well.
Question: Nelson Ng - RBC Capital Markets, Research Division - Analyst
: It seems that there's a...
Question: Nelson Ng - RBC Capital Markets, Research Division - Analyst
: Let me mute while I listen to your response.
Question: Nelson Ng - RBC Capital Markets, Research Division - Analyst
: Okay. That's clear. But essentially, the Shannon net impact was $14 million. And what you're saying is -- what you're saying is you're kind of borderline
in terms of whether to like walk away from that project or not, whereas Flat Top, it's a more definitive decision?
Question: Nelson Ng - RBC Capital Markets, Research Division - Analyst
: Okay. So the next question I have is about Hawaii. In terms of -- I just want to ask, you started some -- you've given, I guess, limited notice to proceed
on a few projects. Have you locked in all the project costs for those projects where you started construction, I guess, like with much higher steel
prices and all the other commodity prices, copper and everything you've highlighted as well, everything is going up. But I'm just wondering how
the construction costs for Hawaii is compared to what you kind of modeled in a few years ago when you bid the projects and also what the situation
is now in terms of locking in pricing?
Question: Nelson Ng - RBC Capital Markets, Research Division - Analyst
: Okay. And then just one last question. In the MD&A, I know it's been kind of going on for -- I think the disclosure was there the last quarter as well,
but there's been a number of financial covenants that has -- that have been tripped and a lot of debt has been moved to as current liability. Can
you just talk about a few of them and give a bit more color in terms of -- I think it's like MU wind. There's like a French project. There's, I think,
Mountain Air as well. So can you just kind of run through some of them? And like, is this something that you have to kind of resolve pretty quickly?
Or -- yes, I just leave it there.
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