During an interview with hedge fund manager and wannabe-wind-developer T. Boone Pickens last month in New York, we got the impression that Pickens was hopefully optimistic that his massive wind project would be able to meet its previous construction timeline. Despite repeated questioning from a group of reporters on the feasibility of his timeline and plan, Pickens remained positive and insisted that, despite any potential delays, the wind farm would be built.
It now sounds like the inability to raise either debt or equity for his plan is making him downright nervous, and he has shaken that initial positivity. Pickens told a group of reporters in New York yesterday that he is “anxious” over the financing.
“Where’s the money is the question. I don’t know how we’ll do it. I’m anxious to see what Obama comes up with. There is no money to finance a wind project now . . . I’m a little anxious.”
I mean, what’s there to be worried about? Just that $2 billion his firm already spent on the wind farm, the $58 million spent on promoting the Pickens Plan, the fact that his hedge fund is down $2 billion this year, and the massive global recession.