Raymond James analyst Justin Jenkins points out that Williams (WMB) last week announced a roughly $1.6B investment to provide natural gas and power infrastructure for an undisclosed customer and the firm’s findings imply this project is the Socrates Power Solutions Facilities. The firm adds: “We do not understand this to have been widely picked up by investors/analysts or the media.” The firm understands that a subsidiary, Will-Power, is planning to build two power generation facilities in New Albany, Ohio, dubbed Socrates North and Socrates South, adding that a customer counter-party has not yet been disclosed. The firm has an Outperform rating on Williams shares.
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