While the move suggests that the long-awaited restructuring is inching forward, the disclosure left out the details the market was hoping for.
Infusion sans inclusion
One listed renewable energy company with grand designs on rewriting the country’s renewable energy story has made another move — but not one investors can bank on just yet.
The company’s board recently signed off on a budget — not for new solar farms or fresh capacity, but to engage lawyers, financial advisers and other professionals to prepare a planned asset infusion from its parent.
While the move suggests that the long-awaited restructuring is inching forward, the disclosure left out the details the market was hoping for. The company did not disclose the size of the approved budget, the assets lined up for injection, or a timetable for completing the transaction, saying only that more information will be released “in due course.”
For now, the board has approved the groundwork rather than the deal itself.
Before a company can rewrite the country’s renewable energy story, someone has to draft the paperwork. Until the promised details arrive, the only certainty is advisory fees.
