Infigen sounds alert on threat to renewable energy

Age
Friday 26/2/2010 Page: 5

FAILURE to reverse a slump in the price of renewable energy credits threatens the industry's profitability and will undermine Australia's efforts to cut carbon emissions, says windfarm developer Infigen Energy. Infigen Energy plans to triple its domestic capacity to 1000 MWs in the next five years, after buying the development portfolio from B&B.

But managing director Miles George said these plans would be in danger if the government did not resolve the disarray in the large-scale renewable energy business. The company posted a $18.3 million net loss for the six months to December, an improvement on its previous loss of $88.4 million. The shares fell 6¢ to $1.23.