A North American windpower company in which Infratil Ltd (NZX: IFT) has been a catalyst for the Wellington-based investment company to upgrade its guidance for the year to March, 2019.
Infratil said Longroad Energy Holdings (LEH) has helped the company to revise its underlying EBITDAF guidance for the year from a range of $500 million to $540 M to $540 M-$580 M.
Infratil said the revised FY2019 guidance follows confirmation of the forecast contribution. Infratil said in July LEH sold its 250 MWac Phoebe solar generation project in Winkler county Texas to Canadian investor Innergex Renewable Energy.
Since then, Infratil has been working with LEH to finalise the net development gains and accounting profit from the project sale, while also updating LEH’s forecast net surplus after tax for the remainder of the financial year.
“These items together have favourably impacted our forecast contribution from LEH to the consolidated result by $34 M,” Infratil said.
In setting its revised underlying EBITDAF guidance, Infratil noted key assumptions which remain unchanged:
• Wellington International Airport FY19 EBITDAF guidance of $100 M.
• Canberra Data Centres 20% year-on-year EBITDAF run rate growth (excluding revaluations).
• Long run average weather conditions and house price inflation for the remainder of the financial year.
• Capital expenditure guidance does not include capital required for the current takeover offer for Tilt Renewables or Infratil's expected contribution to the Tilt Renewables Dundonnell wind project in Victoria.
Companies mentioned in article