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Jerome a Paris:
you can set it into stone from the start (given that you need most of the money upfront to build the windfarms). Markets (banks, anyway) are happy to give you a fixed rate
And then if the interest rate environment changes the cost of refinancing an equivalent energy stream will be different. Balance-sheet risk doesn't go away just because all your debt instruments are fixed-rate.

By laying out pros and cons we risk inducing people to join the debate, and losing control of a process that only we fully understand. - Alan Greenspan
by Migeru (migeru at eurotrib dot com) on Thu May 20th, 2010 at 06:23:57 AM EST
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