Wind turbine maker Clipper Windpower has tapped investors for another £25m in a placing to alleviate working capital issues that it had already flagged up. The company has been affected by problems with some turbines already in the field, which are incurring remediation costs. However, remediation has been held up recently by poor weather, which has added $8m-$10m (about £4m-£5m) extra to the cost.
Clipper has done well to raise money in these markets, but we remain unconvinced. So, until the company has finally ironed out all the technical issues with its turbines, its shares are fairly priced at 535p.
No comments:
Post a Comment