Energy Club

Northern Territory

  • Home
  • News
  • Zenith favouring build, own, operate after strong half year

Zenith favouring build, own, operate after strong half year

28 Feb 2019 5:53 PM | Sonia Harvey (Administrator)

REMOTE power specialist Zenith Energy has secured $40 million in additional corporate debt facilties two days after releasing half-year results that showed growth from its move from engineering, procurement, construction specialist to a build, own, operate model. 

The money will be used on capital expenditure on new and existing projects, with some left over for acquisitions and general corporate spend.  

The company has been able to gain an overall reduction in associated funding costs as well as the extend the debt maturity date.  

Yesterday the company announced it had received certification of full diesel completion after satisfying diesel performance testing requirements at the 62 megawatt power station it built for Newmont Mining's; Tanami gold mine.  

It will now begin commissioning the Wartsila gas generation capacity before testing the full completion performance testing in the weeks to follow.  

Meanwhile during its half year results of Tuesday it reported 61% growth in BOO megawatt  growth over the previous corresponding period, a 53% growth in BOO revenue compared to the last period, 123% growth in BOO EBITDA, and 19% growth in total megawatts under control from 395MW to 428MW over the period.  

Group net profit after tax was down $4.8 million compared with the previous period thanks to what Zenith calls a "refocus on growing BOO operations".  

 PP&E increased from $76 million in the second half of financial 2018 to $114 million in the first half of this financial year and inventory increased fro $700,000 to $12 million 

Source: Energy News Bulletin

Read more here.

Energy Club NT is an Incorporated Association 

The information contained in this website is for general information purposes only. The information is provided by Energy Club NT Inc and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.

Through this website you are able to link to other websites and files which may not be owned, authored or under the control of Energy Club NT Inc. We have no control over the nature, content and availability of other websites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.

Powered by Wild Apricot Membership Software