IMO the pullback is technical. It reached $1.90+ which was 50% above issue price of $1.25, I expected a max retracement of 20% back to the $1.60 region. I thought the price was good last week so I topped up myself. One for the long term I think. In Europe, windpower is competive in its own right with other forms of energy and needs no subsidies to be profitable, and carbon credits make it very attractive in Europe.
Also has a good first mover advantage, there's not boundless tracts of land suitable for windfarms. The move to offshore farms can utilise larger blades as it's not restricted to road transport limits. This gives economies of scale.
Awaiting further financial reports to see how the company is tracking.
Regards,
TDF
BBW
babcock & brown wind partners group
IMO the pullback is technical. It reached $1.90+ which was 50%...
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