agl won't commit on buying ifn farms

Trawling through recent news for opinion on IFN, (and why it's share price is heading so dramatically South), I came across an article in Business Spectator that might give further clues. It is from AGL's H1 results statement.
Interesting paragraphs are:
"AGL, which is developing the largest wind farm in the southern hemisphere in Victoria, said it would hold off on approving further renewable energy projects until a carbon price was introduced.

"There is going to be a lot of activity in the renewable space in the second half of this decade but why spend capital early? That's the question."

and:

"Acquisitions eyed

AGL is looking at a range of potential acquisitions, armed with $800 million in spending capacity, Mr Fraser told Reuters.

"We are always looking at a range of assets in our sector," Mr Fraser said in an interview.

He declined to comment specifically on whether the company was looking at Infigen Energy's wind power assets, amid speculation that Infigen's wind farms may go up for sale.

"There are plenty of people out there not making money. The question is whether we can get anything that makes sense," Mr Fraser said, when asked whether AGL may be interested in Infigen's assets.

AGL is unlikely to commit to building any new wind farms beyond the four it already has under construction until renewable energy certificate (REC) prices improve, Mr Fraser said, with AGL forecasting that RECs would be in surplus until 2015.

Certificates for wind farms last traded between $35 and $36 per megawatt hour, well below the $60 to $65 level that Fraser said is needed to justify investment.

Renewable energy certificates are a key income stream for wind farms, alongside the power they generate, but at current prices for those certificates, lenders are unwilling to finance wind farm projects.

Fraser said REC prices would not improve until there is more certainty about how Australia plans to price carbon emissions. "

The full article is at:

http://www.businessspectator.com.au/bs.nsf/Article/AGL-1H-net-profit-up-30-EBVTE?OpenDocument&src=hp7

It shows how much green power generator's fortunes are in the hands of our politicians.
C.S.

I hold IFN from the old BBW days and am licking my wounds.