Tag: Domestic
Windlab
The Case for Windlab
. | 2017 | 2016 | 2015 |
Revenue | $ 24,515,379 | $ 18,101,100 | $ 10,012,006 |
Expenses | -$ 10,098,372 | -$ 13,023,113 | -$ 8,524,804 |
Profit before income tax | $ 14,417,007 | $ 5,077,987 | $ 1,487,202 |
Income tax | -$ 4,912,534 | -$ 1,779,491 | $ 14,687 |
Profit | $ 9,504,473 | $ 3,298,496 | $ 1,501,889 |
Equity at the start of the year | $ 13,404,230 | $ 9,207,680 | $ 7,699,065 |
ROE | 71% | 36% | 20% |
Average | 42% | ||
The company is able to achieve this sort of ROE as windfarm developments are sold once all approvals and agreements signed but before construction begins, meaning developing multi-million dollar projects does not require significant capital. For example, take the site of the Coonooer bridge wind farm, a 19.8 megawatt wind farm in North Western Victoria with a total development cost of $48.6 million. After identifying the site with Windscape, Windlab spent only $300,000 in acquiring the land, then spent $2.2 million or research and planning applications for a total investment of only $2.5 million. Windlab then sold 96.5% of the equity in the Coonoer Bridge to Eurus Energy for just over $4.7 million who then funded the construction of the site with help from grants from the state government. In total, Windlab walked away from this transaction with over $4.7 million in cash and a remaining 3.5% stake in the project, a return of over 111% on the initial investment.
Valuation
- 640 megawatts of approved potential capacity across multiple projects in South Africa. (While South African Renewable Energy projects have been on hiatus, it does seem the projects are about to get up and running again after a recent change of government
- 250 megawatt project in Northern Queensland that Windlab is intending to submit a development application for in 2019
- 230 megawatt project in Vedigre USA that Windlab no longer has control over, but is eligible for up to $4.6 million in success payments if the project reaches financial close.
Project | Value |
Lakeland | $ 10,200,000.00 |
East African projects | $ 42,300,000.00 |
Greenwich | $ 2,800,000.00 |
Other projects | $ 15,000,000.00 |
Total | $ 70,300,000.00 |
Book value | $ 9,690,000.00 |
three years of annual costs | $ 19,200,000.00 |
tax on projected profit | $ 12,423,000.00 |
Value after tax | $ 38,677,000.00 |
Area | Value |
Development Projects | $ 38,677,000.00 |
Operating wind farms | $ 52,770,000.00 |
Asset Management business | $ 8,500,000.00 |
Windscape software | $ 10,000,000.00 |
Cash | $ 14,622,414.00 |
Liabilities | -$ 10,755,130.00 |
Total | $ 113,814,284.00 |
Shares outstanding (diluted) | 73848070 |
Price | $ 1.54 |
Vigilant Aerospace Adds Business Development Manager, National Sales Office in North Dakota
Vigilant Aerospace is pleased to announce the launch of our new national sales office located in North Dakota and the addition of Business Development Manager Ryan Aasheim. “The UAS [unmanned aircraft systems] industry is entering a phase of rapid expansion and a sales office in North Dakota is an ideal launching point to capitalize on […]
The post Vigilant Aerospace Adds Business Development Manager, National Sales Office in North Dakota appeared first on Vigilant Aerospace Systems, Inc..
Successfully Fulfill Your Crowdfunding/Kickstarter Campaign
Quite possibly, one of the most useful inventions of modern times, and since the advent of sliced bread has to be online fundraising. Companies like Crowdfunding and Kickstarter enable you to get your product in front of millions immediately. What was once a daunting task...
The post Successfully Fulfill Your Crowdfunding/Kickstarter Campaign first appeared on Ottawa Logistics.