Business
Origin hits snooze on wind and solar as gas write-downs wipe out profits – RenewEconomy
Origin Energy to kick-start Beetaloo Basin gas project, while profits and renewables investment stall on lower electricity prices.
Origin Energy may hold off on investments in new wind, solar and storage projects, suggesting that a fall in wholesale electricity prices and the lack of clear policy has made such projects marginal investments.
The advice came as Origin reported a stable operating profit of $1.023 billion for the 2019-20 financial year, but found its net earnings almost entirely wiped out by write-downs the company announced on the value of two of its gas projects.
These include a $1.2 billion in impairments …
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