Infigen says revenues have been hit by Covid-19 impacts, but long term outlook heightened by pace of clean energy transition and AEMO’s 20-year blueprint. Swinburne joins a going list of universities in switching their electricity use to renewable sources, and follows the university becoming one of the first to become a signatory of a formal declaration of a climate change emergency in January. End-of-day quote Australian Stock Exchange - 10/30, AC Energy Unit Sells Infigen Energy Stake After Takeover Battle With Iberdrola, Australia's Infigen forecasts "materially lower" earnings. In 2018, the University of Newcastle secured a similar deal with Snowy Hydro’s Red Energy subsidiary, securing a contract for the supply of 100 per cent and firmed supply of renewables. Most relevant news about INFIGEN ENERGY LIMITED: 09/09: AC Energy Unit Sells Infigen Energy Stake After Takeover Battle With Iberdrol.. DJ. The reduction in economic activity is causing demand to fall and prices to fall, but this and restrictions on movement also means generators are not undergoing expected maintenance. Renewable energy developer and takeover target Infigen Energy has reported a significant fall in revenue in the fourth quarter – due to the combined impacts of Covid-19 and the fall in electricity prices – but noted that the Australian Energy Market Operator’s 20-year blueprint creates optimism about the clean energy transition. In this environment – characterised by subdued near-term earnings prospects, but significant long-term growth opportunities – a strong and flexible financial position will be central to Infigen’s success.”, Complete switch to hydrogen fuel flights possible by 2050, CSIRO says, EnergyAustralia jumps over hedge, and gets ready to step on the gas. Infigen says once conditions return to normal, post pandemic, demand will return and higher prices and likely increased volatility will be associated with a higher penetration of renewables. The company's development pipeline comprises approximately 1,100 megawatts of wind and solar projects in Australia. As Australia’s aging baseload coal fired fleet inexorably retires, substantial investment in renewable and firming capacity will be required. Capital Solar Farm; Investors. Infigen (ASX:IFN) is a listed energy market participant delivering energy solutions to Australian businesses and large retailers. Officeworks signs up to go 100 per cent renewable by 2025, Bunnings pledges to source 100 per cent renewables by 2025, Buildings must now eliminate gas to qualify for top Green Star ratings, One week in to beta tests, Tesla’s FSD navigates roundabouts and skeptics, Plugged In: Tesla bags new site, Model 3’s rally win, first V2G charger, and more, Most drivers want an electric car, and subscriptions may solve issue of price. News; Community Committee. 08/02: INFIGEN ENERGY: Australia's Infigen Energy forecasts weaker fiscal 2021: RE. @ Copyright RenewEconomy 2018. Infigen warns of the conflicting issues in the market. Michael Mazengarb is a journalist with RenewEconomy, based in Sydney. All rights reserved. “Infigen’s asset portfolio and energy markets capability positions the business to be a significant contributor to this transition. Wind Energy Projects. Infigen Energy, which has traditionally operated as a developer and operator of wind and solar projects in Australia, has worked to diversify its business offerings by expanding into the retail electricity market for commercial customers. Infigen revenue slumps as markets fall, but ISP offers hope for transition .
The good news is the medium to longer term future, reflected in the Integrated System Plan released by AEMO last year, and which plots a 20-year path to a grid dominated by renewables, possibly as much as 94 per cent by 2040 under its “step change” scenario.
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