Infigen Energy Reports Unaudited Production and Revenue Results for the Second Quarter and Six Months Ended December 31, 2016; Provides Earnings Guidance for the Year 2017
Production of 889 GWh for first half of 2017 was 18% or 135 GWh higher than the prior corresponding period.
For the quarter, the company's revenue of $52.4 million for second quarter of 2017 was 22% or $9.4 million higher than the prior corresponding period primarily due to higher production.
Revenue of $115.4 million for first half of 2017 was 38% or $32.0 million higher than the prior corresponding period.
Following a strong revenue performance to date Infigen now expects 2017 EBITDA to be approximately $140 million. The expected $4 million profit on the sale of the Manildra solar development project would be in addition to this.