September 2 (Renewables Now) - Aussie renewables developer Windlab Ltd (ASX:WND) has started a review of its strategic options in an attempt to close the gap between its stock price and the board’s view on the underlying value of its assets and operations.
The Canberra-based wind energy specialist said in a statement last week that it had hired Moelis Australia Advisory Pty Ltd to help it review a variety of options, including the introduction of potential capital partners, as well as alternative company or asset ownership models.
Windlab says it has over 1,000 MW of wind farm capacity in operation or under construction on three continents. It is also developing more than 7,500 MW globally.
The same day, Windlab reported an improvement in its six-month loss after tax to AUD 907,645 (USD 609,000/EUR 556,000) for January-June 2019, compared to AUD 1.3 million a year earlier. Earnings before interest, tax, depreciation and amortisation (EBITDA) were still negative, but the loss was reduced to AUD 1.45 million from AUD 1.86 million. Revenue from contracts with customers was flat at AUD 1.84 million.
(AUD 1.0 = USD 0.671/EUR 0.612)