Elecnor blames earnings slump on SA-NSW high-voltage cable project

EnergyConnect’s Spanish contractor, Elecnor, has blamed a group earnings slump on losses taken on the construction of the high-voltage cable linking South Australia and NSW as local firms vie to complete the troubled project.

Elecnor, which is listed on the Madrid stock exchange, revealed this week it had recorded a provision of €8.4 million ($13.98 million) for losses on its Australian projects in the six months to June 30.