Infigen Energy Stock Recorded The First Upside Movement Of 2019

When all the energy sector companies spotted positive market trends on higher oil prices, the ASX listed player of clean energy Infigen also made a rebound in today’s trading session. Infigen’s stock price jumped up sharply by 6.818% to end the session on a positive note for the first time in 2019. This outlines the IFN’s last traded stock price of $0.470 on 3 January 2019.

It seems investors have sighted a steady growth in the renewable energy sector that is backed by the strong support of the government. Currently, Infigen’s underlying Earnings Before Interest, Tax, and Amortization (EBITDA) is sitting at $149.1 million with an EBITDA margin of 66.6%.Â

Recently, Infigen Energy (ASX: IFN) announced the financial close of its growth project Cherry Tree Wind Farm on a ‘Capital Lite’ basis with the John Laing Group acquiring 100% ownership of the project. Infigen has sold the development it made at Victoria-based 57.6MW Cherry Tree Wind Farm for $6.5 million and entered into a run-of-plant power purchase agreement (PPA) with John Laing Group. That means as the Cherry Tree Wind Farm will roll out its commercial operations, Infigen will purchase all the green and electricity products that it will manufacture. Moreover, the term for power purchase agreement has been fixed to 15 years.

With this agreement in place, Infigen now has a new valuable source coupled with Kiata Wind Farm products to serve the growing market of Victoria. When operational, Cherry Tree Wind Farm is expected to produce approximately 182 GWh p.a. of electricity from its installed capacity of 57.6MW. The projected annual generation output from the wind farm will equate to powering 37,000 average Victorian households and avoid the emission of 200,000 tonnes of CO2 annually.

However, John Laing Group has now become the owner of Cherry Tree Wind Farm and will fund the construction of the project. It is expected that construction of the Cherry Tree Wind Farm will begin from this quarter, i.e., Q1 2019, and will take an estimated construction period of 17 months. Besides managing the construction process of the wind farm, Infigen has committed to provide asset management services for a term of 8 years during its operational stage.

Infigen’s stock last traded at a price to earnings ratio of 9.170 x with a market capitalization of $420.89 million and shares outstanding are 956 million shares. In the past 12 months, IFN has fallen 36.23% including a plunge of 20.72% witnessed over the past three months.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.


Disclaimer
The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.
   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK