Since I've taken on the role of Relicensing Manager at Yadkin, I have heard many requests for Alcoa Power Generating Inc. (APGI) to open its financials. On March 4th, APGI released audited income statements for the Yadkin Project to improve understanding among key stakeholders in the relicensing process. We had PricewaterhouseCoopers LLC (PwC) perform an independent audit of the 2008, 2009 and 2010 income statements.
Running a hydropower project can be complex, and only a skilled operator with a long-term outlook can be successful, particularly given the substantial investments in the Yadkin Project that APGI is planning.
That said, APGI is committed to making the investment for the Yadkin Project to operate safely and efficiently for the next 50 years or more, providing long-term economic benefit and tax revenues for the region through private investment.
Read the press release.
Friday, March 4, 2011
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