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Low winds affecting financial performance of Wigton Windfarm

Low winds continue to negatively affect the financial performance of  listed company Wigton Windfarm.
 
For the nine month period to December, Wigton suffered a 53 percent reduction in profit which amounted to $277.4 million  
 
Revenue declined by 13.7 percent to $1.7 billion.
 
This decrease was mainly as a result of  equipment maintenance cost and lower levels of  production which impacted sales revenue.
 
Wigton experienced a lower wind regime due to the La Niña phenomenon which has been in effect for the past two years. 
 
La Niña has the effect of  reducing the pressure differences across the region. 
 
This lowered the wind speed experienced and coupled with the lower availability of  the turbines, translated into lower production from the wind turbines.      


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