The cash purchase price for the 84 MW portfolio of Futtsu, Kanagi, Otsuki and Ohorayama is approximately $131.5 million, which represents a 10.5x multiple of the five-year average cash available for distribution
. The cash purchase price for the 122 MW Tsugaru project is approximately $194.0 million, which represents a 9.0x multiple of the five-year average CAFD1 starting with the first full year of operations in 2021.
However, each shareholder is entitled to elect to receive the entire amount in either cash or common stock, subject to a limit on the total cash available for distribution
. This total cash amount payable as special distribution will be limited to a total of USD156.6m (the ), without any cash paid for fractional shares.
Upon closing, the transaction is expected to provide approximately $21 million in unlevered Cash Available for Distribution
in the 12-month period following the transaction closing.
The firm posted an increase in cash available for distribution
of 25 percent in the fourth quarter of 2011 against the year-ago period.
Following integration of the acquired assets, the Partnership expects the transaction will be accretive to cash available for distribution
Cash available for distribution
(CAD) for the third quarter 2002 equaled $61.6 million, or $0.86 per share, versus $53.5 million, or $0.76 per share, for the same quarter last year, a per share increase of 13.2%.
NRG Yield (NYLD) is announcing the next set of drop down transactions with NRG (NRG) through the execution of definitive agreements to acquire both the 154 MW Buckthorn Solar Project and the 527 MW1 Carlsbad Energy Center for a combined $407 million in total consideration with annual expected cash available for distribution
of $44 million beginning in 20192.
This represents a 10x multiple of the five-year average cash available for distribution
. The Public Sector Pension Investment Board acquired the remaining 49%.
Power company Pattern Energy Group Inc (Nasdaq:PEGI)(TSX:PEGI) revealed on Monday the completion of the acquisition of a 51% interest in the 179 MW Meikle Wind facility from Pattern Energy Group LP for a purchase price of USD68m, which represents a 10x multiple of the five-year average cash available for distribution
The firm reported an increase in cash available for distribution
of USD2.6m in the third quarter of 2011.