Strong first quarter performance: Infigen Energy Ltd (ASX: IFN) stock fell over 6.3% on November 15, 2016 with market volatility. On the other hand, the group reported a production of 437 GWh for the first quarter of FY17, which was 11% or 44 GWh more against earlier corresponding period (pcp). Better wind resource in New South Wales (NSW) and South Australia (SA) drove this performance. As a result, the group’s revenue surged 56% year on year (yoy) to $62.8 million during the period driven by the rising merchant electricity prices in SA and to a lesser extent in NSW, higher merchant Largescale Generation Certificate (LGC) prices, and rising production. The average bundled price for the sale of electricity and LGCs rose 40% or $41.21/MWh to $143.71/MWh over the same period of last year.
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