Subject: Accounting rules for power plants
From: [email-masked]
To: [email-masked], [email-masked]
Cc: [email-masked], [email-masked]
Date: Tue, 27 Mar 2001 10:14:00 -0800 (PST)

I had a brief conversation with Herman Manis, and he tells me that there is a 
different interpretation of accounting rules relating to power plants.  
Strangely enough, the change is one which should (I hope I hope) make power 
development projects easier.  In the past, we ran into problems anytime we 
wanted to build a power plant and take megawatts off of it.  Herman tells me 
that the current interpretation now focuses on the operation and maintenance 
of the plants, and not the power purchase agreement relating to the plant.  
This change in focus should make power development deals easier to 
structure.  

I would still like to set up an Intro to TurboPark meeting with Rose 
Engeldorf.  Rose is currently involved in a push a couple of deals in the 
West this week, so it may be a bit before we can get it set up.  A meeting 
with Herman would also be helpful.  Maybe we can buy him lunch and quiz him 
on these new developments.

Kay