In case other hve not seen this article from last month. Infigen...

In case other hve not seen this article from last month.

Infigen Energy chief executive Ross Rolfe said policy uncertainty will factor into decisions on two new wind farms in Victoria and NSW this coming financial year but insists that any move by new Prime Minister Scott Morrison to walk away from the Paris accord "isn't necessarily a bad outcome" for the existing business.
Speaking after the wind power producer posted a 41 per cent jump in full-year profit and flagged the likely resumption of dividends, Mr Rolfe said policy uncertainty in general is "not a positive impact on the cost of capital" for investments into energy.
"Uncertainty and the implications for sovereign risk are two important factors that the market obviously has constantly in its mind," he said.
Infigen is heading towards a final investment decision this coming financial year at its proposed 50-megawatt Cherry Tree wind farm near Seymour in Victoria, and is also progressing its Flyers Creek wind project near Orange in NSW.

But in the meantime, the wind power producer has moved ahead with its entry into the Victorian renewables market through a new five-year contract to buy power from the Kiata wind farm being developed by Windlab north-west of Horsham.
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Mr Rolfe said that would allow Infigen to start selling renewable power directly to commercial and industrial customers in Victoria, a strategy that has allowed it to increase contracted sales of energy and renewable energy certificates in South Australia and NSW.
Bottom line net profit rose by $13.4 million to $45.7 million, buoyed by accounting for a deferred tax asset related to the expected future use of unrecognised tax losses.
Underlying gross earnings, which are more representative of actual performance, climbed 7 per cent to a record $149.1 million on higher production and an increase in Infigen's electricity price in NSW despite softer wholesale prices.
Direct purchase contracts

Mr Rolfe said Infigen's refinancing, announced in February, lowered corporate debt and created the opportunity for the board to consider resuming dividends this financial year.
Shares in Infigen, in which Canadian infrastructure giant Brookfield took a stake in April, closed up 4 per cent at 64.5¢.
JPMorgan said underlying net profit was ahead of consensus but earnings before interest, tax, depreciation and amortisation fell short of forecast. Finance director Sylvia Wiggins said analysts hadn't taken into account the higher proportion of Infigen's contracted sales, where prices were lower than current spot rates under long-term power purchase agreements.
The company, the former Babcock & Brown Wind Partners, is forecasting production will rise by up to 14 per cent this coming financial year as its new Bodangora wind farm in NSW comes online. But it also cautioned that production from its individual wind farms may be "slightly reduced" as El Nino wind patterns are forecast to return.

Infigen has been tapping into increased appetite among commercial users of power for direct purchase contracts for renewable energy and noted that its new battery project in South Australia, announced earlier this month, would allow a further 18MW of energy from the Lake Bonney wind farm to be contracted for sale.
Mr Rolfe said any decision to exit the Paris climate accord would reduce the likelihood of significant new amounts of new renewables generation coming online, with a follow-on impact on the volume of large scale generation certificates (LGCs) produced, and therefore prices.
He noted ongoing discussions with Brookfield on potentially working together as strategic investors and capital partners in new projects.