Infigen Energy: Result 2012

Infigen's results were reasonable and don't change the investment thesis. But, with the stock up 30% since our last review, we're downgrading.

In the year ended 30 June 2012, Infigen Energy produced 4,538 gigawatt hours of electricity at its 24 wind farms in Australia and the United States, down 2.8% on production in 2011. The addition of the Woodlawn windfarm during the period wasn’t enough to offset lower average wind rates across the rest of its portfolio.


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