Australia's Frontier Energy soars on government support for renewable energy project

Frontier Energy

24/03/2025 03:31

** Shares of Frontier Energy FHE.AX rise as much as 48% to A$0.145, posting their biggest intraday percentage gain since March 3, 2022

** Stock hits highest level since November 27, 2024

** Renewable energy firm says its Waroona Project was selected for the Australian Government's Capacity Investment Scheme (CIS)

** Says CIS provides a revenue floor, guaranteed by the government for up to 15 years

** About 4.7 mln shares change hands, vs the 30-day average of nearly 294,000, recording their busiest day since November 2024

** Stock last up 35.2%, bringing YTD gains to 10.4%

 (Reporting by Aaditya Govind Rao in Bengaluru)

 ((Aaditya.govindrao@thomsonreuters.com;))