Our New Name – INFIGEN ENERGY... http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=IFN
Full Corporate Presentation..
http://www.bbwindpartners.com/ Pay attention to the Investor pack.. Under presentations 24.02.09 and the BBW H109 Results 24-Feb-09 audio it is used as the basis for the audio.. Over 1 hr in length..gives a good understanding of BBWNF..hank
B&B Wind becomes Infigen Energy
NEW WEBSITE: http://www.infigenenergy.com/
|Company Overview |
|IFN is a balanced investment, with a combination of income and growth prospects. with interests in wind energy-generation assets in Europe, North America and Australia. IFN was established in 2003 as a single-asset private investment and, upon listing in October 2005, acquired the US assets and Olivo in Spain. Subsequently, IFN has sold a number of key assets and removed itself from Babcock and Brown by internalising management and changing its name from Babcock & Brown Wind to Infigen Energy. |
|Company History |
|IFN previously operated as Global Wind Partners (established in 2003), and then Babcock & Brown Wind Partners was created and listed via an IPO completed on 28 October 2005. In May 2009, Babcock & Brown Wind Partners changed its name following the internalisaiton of management to Infigen Energy. |
|Differentiating Factor |
|IFN is a small-cap, geographically diversified wind farm renewable energy utility stock. IFN is the sole wind-energy-only listed stock on the ASX, however TSI and AGK are pushing further into the sector. IFN aims to invest solely in the global wind energy-generation sector, in assets that offer predictable cashflow, supported by attractive off-take arrangements. |
|Major Customers & Competitors |
|IFN's operational asset electricity outputs and RECs (where applicable) are sold under long-term (10+ years) off-take PPAs to established utilities. IFN is the sole wind farm power-generation-only listed investment on the ASX. IFN would compete with the broader balanced-to-growth investment-type peer group. |
Babcock & Brown Wind Partners Group shareholders have approved the company’s name change, finalising its separation from its troubled parent.
At an extraordinary general meeting today, shareholders approved a motion for the company to become known as Infigen Energy.
Infigen is derived from the words infinite and generation, reflecting the infinite availability of fuel sources such as wind and BBW’s core function of generating renewable energy, the company said.
BBW operates 41 wind farms in the Asia Pacific, Europe and North America.
The company will begin trading under the new name on the ASX within days, chairman Graham Kelly told the meeting.
The meeting also saw the approval of new incentive plans for the company's executives, who became directly employed by BBW on January 1.
“The directors' goal is to reinforce the objective of creating sustainable value for securityholders by aligning executive remuneration with that objective,” Mr Kelly said.
A motion to approve the participation of managing director Miles George in the performance rights and options plan was also passed.
The approval of the new name and pay incentives structure finalise the separation of BBW from Babcock & Brown, a process begun by the renewable energy provider late last year.
The debt-laden Babcock & Brown was placed into voluntary administration in March.
Mr Kelly told the meeting the company was “well advanced” in terms of transferring its IT systems, while a move to a new premises would be completed by the end of June.
The company signed an in-principle agreement with B&B on Tuesday to acquire all of its Australian and New Zealand wind energy assets.
“BBW commences its new life independent of B&B in a very strong position,” Mr George said.
“We have long-term revenue contracts and our costs are highly predictable, ensuring high and stable EBITDA margins.”
Mr George reaffirmed full year distribution guidance of at least nine cents per security.
He also indicated the company was looking at offloading its remaining European assets.
“We have indicated that our remaining European assets are non-core to the business and we are currently reviewing proposals from advisers to assist us to maximise the realisable value of these assets,” he said