Jun 29

Infigen issued notice to proceed on Woodlawn

Wind Comments Off on Infigen issued notice to proceed on Woodlawn

Infigen Energy (IFN) announces today that it has issued a notice to proceed for the construction of the 42 MW Woodlawn wind farm located near Bungendore in New South Wales and adjacent to IFN’s operational Capital wind farm.

The Woodlawn wind farm is expected to be completed in the second half of 2011 and will comprise 20 Suzlon S88 2.1 MW turbines acquired by IFN late last year.

Suzlon Energy will also be the turnkey engineering, procurement and construction (EPC) provider on the project. Total EPC costs are expected to be approximately $100 million ($2.38M/MW ex major substation works).

The economics of the Woodlawn wind farm are underpinned by a high quality wind resource, attractive turbine pricing, and an efficient connection to be achieved via the existing 330/33 KV sub-station at the Capital wind farm.

Infigen is currently in discussion with parties regarding sales arrangements for the outputs of the wind farm. The additional capacity will be integrated into IFN’s merchant energy portfolio which contracts directly with electricity retailers and major industrial consumers of electricity and wholesale energy market participants. IFN holds a NSW retail electricity suppliers licence.

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Jun 18

Infigen rules out fund raising

General, Wind Comments Off on Infigen rules out fund raising

Infigen Energy (IFN) rules out raising equity to fund growth projects due to the current share price, which has fallen 37 per cent this year.

George Miles, MD also mention that the US sale process was abandoned not due the low bids received, but because he thought there was more upside for shareholders if IFN retained the US wind assets until market conditions strengthened.

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