Panic Erupts: Infigen Set to Offload Worn-Out Australian Wind Farms to Even ‘Greater Fools’

**** In the hard-hitting Danish docu-drama, Follow the Money, the Armani suited executives of Energreen play a game of cat and mouse with the Fraud Squad, pumping up the value of their wind farm ‘assets’, while erasing anything from their books that investors might reasonably conclude were liabilities. Some viewers might call it ‘creative accounting’, […]

Australia’s Most Notorious Wind Power Outfit – Infigen – Blames $304 Million Loss on the WIND

**** Infigen is an all-wind-power-outfit that used to be called Babcock and Brown, which collapsed in spectacular fashion back in 2009: the way things are headed, get set for a replay. As an investment ‘prospect’, Infigen is all about bleeding cash. It backed up a $55 million loss in 2011/12 with an $80 million loss […]

German Energy Giant E.On says: It’s Time for Wind Power to Grow Up

The wind industry is a lot like Peter Pan – the eternal child, who will fight, kick and scream to avoid the stark reality of adulthood. How often have we heard the yarn about wind power needing a fat pile of subsidies (filched from taxpayers and power consumers) for just that little bit longer to […]

Energy Market Gorillas Beat Up on the Wind Power Monkeys

**** The opportunity to make submissions to the RET Review Panel ended last Friday. The Panel’s mailbox has been stuffed with cracking submissions from Australia’s leading energy market economists, business groups and, more importantly, the really BIG players in Australia’s energy market (let’s call them the “energy market gorillas”). Two of the biggest – Origin […]

Infigen Signals Its Own Demise – as the RET Review Panel Gets to Work

**** Infigen is an all-wind-power-outfit that used to be called Babcock and Brown – which collapsed spectacularly in 2009 – taking $10 billion of investors’ and creditors’ money with it on the way out (see this story). The way things are headed – get set for a replay. Infigen is bleeding cash (it backed up […]

We smell fear and loathing in the wind energy sector

Can you smell it? It’s currently just a hint of Canberra breeze, a waft of something sour. But it’s definitely there. The smell of fear and loathing. Recently, the head of Origin Energy, Grant King, hammered the Renewable Energy Target scheme and the Gillard government’s carbon tax. King told an audience of business heavies the […]

Has someone been telling porkies? Or was there a leak?

“The comments made by Mr Miles George of Infigen regarding the outcome of the systematic review, to which you make reference in your email, are incorrect. NHMRC does not know where Mr George has obtained his information from. The systematic review is still being conducted and the outcomes are yet to be finalised. Access to […]

The Infigen … err, we mean the infinite wisdom of Arthur Daley

By an STT team member Growing up, television was strictly rationed in our household. The box in the corner was considered a bit uncouth – unpredictable and liable to bring unwanted things into the lounge. But there were exceptions: the ABC News (my father), the Mike Walsh Show (my mother) and a weekly half hour […]

By George, how does he know that?

How does Infigen’s Miles George know what the National Health and Medical Research council report on wind farm noise due out later this year contains? Here is the part of an interview he conducted on the wind industry propaganda site http://www.reneweconomy.com.au. It was published on February 22. (He gets the name wrong – it’s NHMRC, […]

Greed, greed, greed and hubris

Nowhere on Miles George’s biography on the website of Infigen Energy are the words Babcock and Brown. And this is unusual because, according to a document we unearthed, he was certainly an important person in the former Sydney-based global investment and advisory firm. George joined the infrastructure and project finance group of B&B in 1997. […]