Infinis dip in renewables road
EBITDA, revenues both down in first quarter results
Renewables developer and operator Infinis posted first quarter EBITDA of £20.3m, down from £22.9m in the year-ago period.
Company revenues declined to £36.6m from £42.1m, in part because of the UK government’s decision to end the climate change levy exemption for green generation.
Generation was also down in the three months to 404.7 GWh, compared with 434.5 GWH in the year-ago period. The 6.9% drop was due to "a combination of the natural decline in landfill gas (and) drier weather conditions”.
Infinis is currently the subject of negotiations with potential new owners. It has a number of under-construction wind farms in England and Scotland.
Image: the Infinis portfolio includes Glenkerie in south of Scotland (Infinis)