Infigen Energy Ltd released production update for the July month 2018

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Infigen Energy Ltd released production update for the July month 2018

 Infigen Energy Ltd released production update for the July month 2018

Production for the July month 2018: Infigen Energy Ltd (ASX: IFN), provider of energy solutions to Australian businesses and large retailers, saw its stock rising 2.98% on August 10, 2018, before market close, after the company’s production for the month of July 2018 rose 8% to 170 GWh compared to the corresponding month last year. In the fourth quarter of 2018, the company’s production had increased 36% to 345 GWh.

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On the other hand, IFN has generated first power from its 113.2-MW Bodangora wind farm in New South Wales and delivered the electricity to the national wholesale market. This wind park after being fully commissioned, will be able to generate enough electricity for up to 49,000 households each year. GE will service its turbines under a long-term maintenance and service contract. Meanwhile, IFN stock has fallen 22.97% in three months as on August 09, 2018Â and is trading at a P/E of 14.25x.

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