Quote:
Originally Posted by DoubleK
They tanked because of the crazy valuations that these stocks were priced at. If you look at the green electricity industry as a whole, they have massively underperformed their O&G peers. That was long before interest rates went up. Once the facilities are installed, the interest rates are locked in. Nobody on the planet aside from Algonquin is on variable debt. Nobody.
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Many company’s credit facilities are on a floating component. Ie. A SOFR rate + bps. Bonds are a different story but the revolvers are mostly floating.