Infinis gets results – and puts new wind farms on hold till referendum settled

Renewable energy company Infinis has announced that it will not build planned new wind farms in Scotland until the outcome of the Scottish Independence referendum is known.

The Referendum is scheduled to take place on 18 September and energy has become a key battleground between the Scottish and British governments, with both sides claiming that their policies will be between for Scotland’s energy industries.

In its interim management statement, Infinis said:

“We continue to make good progress on the A’Chruach project with key turbine procurement and PPA contracts and project finance facilities in the process of being finalised. Pre-construction preparation work for Galawhistle continues to be in line with project development plans.”

wind farm wzBoth projects were expected to be built under the RO (Renewable Obligation) regime and both projects will only begin construction once the outcome of the Scottish Referendum, and its potential effect on energy policy, is known.

Meanwhile in its other results Group operating and financial performance were both good – a solid operational performance for the Period, driven by their landfill gas business which has partially offset lower wind speeds experienced by their onshore wind business.

The company’s hydro business is benefiting from the investments in capital expenditure made in the prior year.
The company will pay its first dividend as a listed company on 28 August 2014 and remains on
track to deliver on its dividend commitments.

For the full picture go to Infinis where it is all clear including land gas, wind power and hydro.

 

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