Infigen Energy (ASX: IFN) has released production results (unaudited) for the first month of 2019. Infigen is a frontrunner among the energy sector participants, which offer energy solutions to Australian businesses. Infigen supplies Australian business customers clean energy from a combination of its renewable energy generation assets and energy sourced under power purchase agreements and firming solutions from the broader energy market with the 25MW / 52MWh Battery under construction at present.
The Production generated from owned Assets from the Windfarm projects in different Australian states was recorded at 135 GWh in January 2019, a 20% increase as compared to 113 GWh noted in January 2018. The production sold from owned Assets included 130 GWh in January 2019, which is a 20% increase from 108 GWh as noted in January 2018. The Production purchased and sold from contracted assets was noted as 12 GWh in January 2019.
On 31 January 2019, IFN reported unaudited production results for the three months ended 31 December 2018 (Q2 FY19). Infigen will release its FY19 interim financial results (H1 FY19) on 21 February 2019. The H1 FY19 production and revenue results remain subject to audit review. The production yielded from Infigen Assets in Q2FY19 stood at 416 GWh when compared to 354 GWh in Q2FY18. The Production sold from Infigen Assets was 403 GWh during the quarter as compared to 339 GWh pcp. The production purchased and traded from non-Infigen Assets was noted as 29 GWh. The Net revenue stood at $52.9 million, compared to $45.5 in Q2FY18.
On 10 January 2019, the company reported unaudited production generated for December 2018. The Production generated from Infigen Assets from Windfarm projects in different states of Australia was 145 GWh in December 2018, a 12% increase from 130 GWh in December 2017. The production sold from Infigen Assets was 141 GWh in December 2018, which is a 13% increase from 125 GWh in December 2017. The Production bought and traded from non-Infigen Assets stood at 12 GWh in December 2018.
On 12 December 2018, IFN announced that Ms Karen Smith-Pomeroy was appointed to the Boards of Infigen Energy Limited and Infigen Energy RE Limited (the Infigen Boards). Infigen’s Chairman, Len Gill stated that he welcomed the appointment of Karen as a new independent director. He further said that Karen’s experience across several industry sectors and specific expertise in risk and governance would be invaluable to the Infigen Boards.
By the closure of the trading session on 11 February 2019, the price of the stock IFN stood at A$0.470, up by 2.174 % or 0.010 points as compared to the previous close of A$0.460. The company has circa 956.56 million shares outstanding with a market capitalisation of approximately A$440.02 million. The stock has generated a negative return of 45.33% since its inception. The share price has declined by 20% over the last six months, although with a decent YTD return of 4.55%.
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