| Wind Watch is a registered educational charity, founded in 2005. |
One bad blade at wind farm wipes out $6 million for TerraForm
Credit: By Brian Eckhouse | Bloomberg | May 2, 2018 | www.bloomberg.com ~~
Translate: FROM English | TO English
Translate: FROM English | TO English
A single faulty blade at an Ontario wind farm proved costly for TerraForm Power Inc.
When the part failed in January at the company’s Raleigh wind farm, TerraForm took 70 turbines that used the same type of blade out of service to identify the problem. That ate up about $6 million in cash that otherwise would have been available for distribution to shareholders, TerraForm said in a statement Tuesday after the close of regular trading.
TerraForm, a renewable-energy company controlled by Brookfield Asset Management Inc., reported first-quarter revenue of $127.5 million. That missed the $146.4 million average of eight analysts’ estimates compiled by Bloomberg.
TerraForm shares slipped 2.3 percent to $10.85 at 11:44 a.m. in New York, after earlier declining as much as 3.3 percent, the most intraday since March 19.
This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.
The copyright of this article resides with the author or publisher indicated. As part of its noncommercial educational effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments via e-mail.
| Wind Watch relies entirely on User Funding |
 (via Stripe) |
 (via Paypal) |
Share:
[ Short URL: https://wind-watch.org/news/?p=88034 ]
| Tag: Accidents |
