Infigen Energy sees flat US, higher Australian production in FY 2011/12
Aug 31, 2011 - Announcing results for the year to end-June 2011, Infigen Energy (ASX:IFN), the Australian wind farm company, predicted that in the current fiscal year the production would stay flat in the US and would rise in Australia.
The increase in Australia will be helped by higher capacity, with the Woodlawn project scheduled for practical completion at the end of calendar 2011, and by continued availability improvements, the company said.
Infigen Energy, which has holdings in 24 wind farms in Australia and the US, expects overall production to be in the range of between 4,475 GWh to 4,910 GWh, compared to 4,667 GWh in the past financial year.
Revenues in the US are seen to come in at USD 138 million-153 million (EUR 96m-106m) versus USD 150 million last year and in Australia at AUD 121 million-142 million (USD 129m/EUR 89m-USD 151m/EUR 105m) against AUD 117.2 in the 12 months to June 2011.
The company expects average prices across its portfolios in the US and Australia to be in line with last year's levels. It said that prices for wholesale electricity and renewable energy certificates in the two countries were likely to stay muted over the year but that most of its output had been contracted at above present market rates.