Interesting development with Origin Energy (ORG:ASX) signing a 15-year power purchase agreement (PPA) 100% of the output from Fotowatio Renewable Ventures’ (FRV) recently commissioned 56 MW Moree Solar Farm. Why is this important?
Well, the large three Australian electricity retailers: Origin Energy, Energy Australia and AGL have the lion's share of renewable energy liabilities, but the concern has always been that they could build (renewables) themselves. This sets a precedent of signing a PPA from a dedicated renewable company.
This is a clear positive for the potential of IFN's wind / solar yet-to-be-developed portfolio.
IFN Price at posting:
64.0¢ Sentiment: Buy Disclosure: Held
