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Infinis responds to Department of Energy announcement

18 June 2015 14:49

Infinis Energy has noted today's announcement from the Secretary of State for Energy and Climate Change that the Government intends to legislate to close the Renewables Obligation to new onshore wind generating stations from 1 April 2016.

The company confirmed that its two onshore wind projects currently in construction, the A'Chruach (43MW) and Galawhistle (66MW) wind farms in Scotland, will remain eligible to be built out under the existing RO regime.

Infinis further noted that the Government announced that up to 5.2GW of onshore wind capacity in advanced stages of development could be eligible for grace periods. It awaits further clarity on these proposals but said that it remains confident that it will be able to build out its 130-150MW growth target in full under the RO.

Eric Machiels, CEO, said:

"At a time when the Government has pledged to meet its international obligations to reduce carbon emissions and decarbonise power generation, Infinis continues to believe that onshore wind remains the most effective renewable energy technology that is best placed to help achieve these goals at the lowest cost to consumers. Given the good progress of our A'Chruach and Galawhistle construction projects and the maturity of some of our other consented projects, we remain confident that we will deliver on our 130-150MW growth target by 2017."

At 2:49pm: (LON:INFI) Infinis PLC share price was -0.05p at 191.75p

Story provided by StockMarketWire.com

Related Company: INFI

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