Adelaide Advertiser
Saturday 24/2/2007 Page: 82
Babcock and Brown Wind Partners is doing more than tilting at windmills in Spain where further acquisitions of wind farms helped almost double interim revenue. The specialist investment fund yesterday reported a 90 per cent lift in first-half revenue to $48.6 million compared with $25.6 million in the previous corresponding six months to December 31.
Operating cash flow jumped to $41.5 million from $5.3 million and net loss was cut to $900,000 from $18.2 million previously.
Acting chief executive Miles George said the improvement in revenue could be attributed to the acquisition of more wind farms in Spain and from the Alinta wind-farm completion in Western Australia.
Mr George said the outlook for the global wind energy industry, the installed capacity of which increased by 25 per cent in 2006, was good with long-term support for renewable energy continuing to strengthen. Babcock and Brown Wind has six wind farms in Spain.
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