CIMIC Group company UGL has recently announced that it has been awarded contracts by Equis Energy to build and maintain the Tailem Bend 127MWDC Solar Farm in South Australia, which will generate revenue to UGL of approximately $170 million and is due to commence in early 2018, with power generation to the grid expected in 2019.
CIMIC Group Chief Executive Officer Michael Wright said: “With our growing expertise in delivering renewable energy projects, CIMIC and UGL are proud to be supporting the growth of the Australian renewable energy market and delivering the Tailem Bend Solar Farm for Equis Energy.”
Technically, CIM has been in a strong uptrend since late 2016, and after a recent retracement, this year is showing strong signs of moving back to the dominant trend, with the MACD turning up and the price action rallying to the Parabolic SAR, indicating an early change.
The opportunity exists to take a short-term trade in the rally with an April long Call Option position, a Buy and Write strategy, or a CFD long position, depending on your capital and risk profile.
If you have an interest in this potential trade, give the team a call on 1300 88 61 03