Tilt Renewables (ASX:TLT) now expects EBITDAF for the 2021 financial year to be in the range of $65 to $80 million.
This is a substantial decrease from its earlier guidance in May where the company signalled a range of $80 to $95 million.
This will be negative news for Infratil shareholders (ASX:IFT) as the company now owns a 65 per cent shareholding in Tilt.
The downgrade is attributed to restrictions on production at the Dundonnell Wind Farm in Western Victoria. Tilt CEO, Deion Campbell urged investors to remember that the new windfarm with over 80 turbines “is a long term infrastructure asset which will eventually move to full production and produce strong cashflows for more than 30 years”.
Shares in Tilt Renewables (ASX:TLT) last traded at $3.30.