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Frontier Energy Says Renewable Energy Project Selected For Support Under Tender 6 of Australia's Capacity Investment Scheme, Shares Jump 3%

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-- Frontier Energy (ASX:FHE) said the first stage of the Waroona renewable energy project was successful in its application for Tender 6 of the Australian Government's Capacity Investment Scheme, according to a Monday Australian bourse filing.

The underwriting scheme, backed by the Australian Government, provides the Waroona project with a guaranteed minimum level of revenue protection to 2042. If revenue falls below an agreed floor price, measured by Frontier's offer, the government will provide top-up payments.

Its shares jumped 3% in recent trading on Monday.

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