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A Natural Irony

In: Business and Management

Submitted By zepar1
Words 849
Pages 4
Case 13-6 Natural Irony: Accounting Considerations When There Is a Natural Disaster WetWind Alternatives Corp. (“WWA”) is a publicly traded company in Reedsport, OR, that produces electricity using alternative production methods; specifically, using wind and wave-powered turbines. WWA operates one of the first commercial wave-power farms installed in the United States off the coast of Oregon near the mouth of Umpqua River. The wave-powered farm provides power to the city of Reedsport using turbines similar to those developed by leading alternative-energy companies. WWA also operates two wind turbine farms in Sherman and Gilliam Counties that provide power to residential homes and corporate offices in Seattle and neighboring populous cities to the north. WWA sells the electricity it generates to local utilities. Two wholly owned WWA subsidiaries operate out of Oahu, HI: Kahuku Wind Inc. operates an onshore wind farm near Kahuku and North Shore Wave Electric Inc. (“NS Wave”) operates a wave-power farm near the northern tip of Oahu. NS Wave also uses generators similar to OPT’s piston-driving buoy. Kahuku Wind and NS Wave sell the electricity they generate to local utility companies. Relevant quantitative information and key financial metrics are included below:

Selected Data
General Information Number of turbines Power generating capacity (MW) Homes served Average rate Average per capita consumption (kwh) Initial cost of turbines Year end Financial information Total assets (most recent balance sheet date) Revenue (most recent fiscal year)

WWA Wind 37 93.49 14,607 0.0813 Wave 2 0.30 50 0.0813 12,077 13,400,000 12/31 Kahuku Wind 12 30.00 7,700 0.2413 7,363 140,000,000 10/31 NS Wave 9 1.50 400 0.2413 Consolidated 60 125 22,757

$

12,077 $ 432,000,000 12/31

7,363 60,000,000 $ 645,400,000 10/31

$ 345,600,000 64.6% $ 14,342,111 49.8%

9,380,000 1.8%

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