Tilt Renewables Pty Ltd is an Australian
electricity generation
Electricity generation is the process of generating electric power from sources of primary energy. For utilities in the electric power industry, it is the stage prior to its delivery ( transmission, distribution, etc.) to end users or its stor ...
company. It was previously dual listed on the
New Zealand stock exchange
New Zealand's Exchange (), known commonly as the NZX, is the national stock exchange for New Zealand and a publicly owned company. NZX is the parent company of Smartshares, and Wealth Technologies.
On 30 August 2020, the NZX had a total of 1 ...
and
Australian stock exchange
Australian Securities Exchange Ltd or ASX, is an Australian public company that operates Australia's primary securities exchange, the Australian Securities Exchange (sometimes referred to outside of Australia as, or confused within Australia a ...
. As of 2022, the
Powering Australian Renewables has merged with Tilt Renewables following a complex acquisition and merger, making it the largest private developer and generator of renewable electricity in Australia.
On 15 March 2021, a takeover was announced with support from the largest shareholders and independent board members. The proposed
scheme of arrangement
A scheme of arrangement (or a "scheme of reconstruction") is a court-approved agreement between a corporate law, company and its shareholders or creditors (e.g. lenders or debenture holders). It may affect Mergers and acquisitions, mergers and am ...
would be worth by a consortium where the New Zealand assets would be taken over by
Mercury NZ
Mercury NZ Limited is a New Zealand electricity generation and multi-product utility retailer of electricity, gas, broadband and mobile telephone services. All the company's electricity generation is renewable.
In August 2021, Mercury acqui ...
and the Australian assets by
Powering Australian Renewables Fund – itself a consortium of
AGL Energy
AGL Energy Ltd () is an Australian listed public company involved in both the generation and retailing of electricity and gas for residential and commercial use. AGL is Australia's largest electricity generator, and the nation's largest c ...
,
QIC QIC may refer to:
* QIC-United Evangelical Church (Qua Iboe Church), a Christian denomination in Nigeria
* Quarter-inch cartridge, a magnetic tape data storage format
* Queensland Investment Corporation, an investment fund operated by the state g ...
Global Infrastructure Fund and the Australian Government's
Future Fund
The Future Fund is an independently managed sovereign wealth fund established in 2006 to strengthen the Australian Government's long-term financial position by making provision for unfunded superannuation liabilities for politicians and other p ...
.
Generation assets
Below is the list of currently generating assets
owned by Tilt Renewables
Developments
Below is list of the upcoming development pipeline
for Tilt Renewables
Company timeline
October 2016: Tilt Renewables was demerged from
Trustpower, with Tilt Renewables taking ownership of all operational wind assets and the wind and solar development pipeline, and Trustpower retaining all hydro assets. Tilt Renewables was dual listed on the ASX and NZX with the ticker TLT.
December 2019:
Snowtown Wind Farm (Stage 2) was sold to
Palisade Investment Partners.
August 2021: Tilt Renewables
scheme of arrangement
A scheme of arrangement (or a "scheme of reconstruction") is a court-approved agreement between a corporate law, company and its shareholders or creditors (e.g. lenders or debenture holders). It may affect Mergers and acquisitions, mergers and am ...
was implemented with the New Zealand assets purchased by
Mercury NZ
Mercury NZ Limited is a New Zealand electricity generation and multi-product utility retailer of electricity, gas, broadband and mobile telephone services. All the company's electricity generation is renewable.
In August 2021, Mercury acqui ...
and the Australian assets by
Powering Australian Renewables Fund – itself a consortium of
AGL Energy
AGL Energy Ltd () is an Australian listed public company involved in both the generation and retailing of electricity and gas for residential and commercial use. AGL is Australia's largest electricity generator, and the nation's largest c ...
,
QIC QIC may refer to:
* QIC-United Evangelical Church (Qua Iboe Church), a Christian denomination in Nigeria
* Quarter-inch cartridge, a magnetic tape data storage format
* Queensland Investment Corporation, an investment fund operated by the state g ...
Global Infrastructure Fund and the Australian Government's
Future Fund
The Future Fund is an independently managed sovereign wealth fund established in 2006 to strengthen the Australian Government's long-term financial position by making provision for unfunded superannuation liabilities for politicians and other p ...
.
See also
*
Electricity sector in Australia
The Australian electricity sector has been historically dominated by coal-fired power stations, but renewables are forming a rapidly growing fraction of supply.
Due to its large size and the location of its population, Australia lacks a singl ...
*
National Electricity Market
The National Electricity Market (NEM) is an arrangement in Australia's electricity sector for the connection of the electricity transmission grids of the eastern and southern Australia states and territories to create a cross-state wholesale elec ...
References
External links
*
{{DEFAULTSORT:Tilt Renewables
Electric power companies of Australia
Renewable energy companies of Australia
Companies formerly listed on the Australian Securities Exchange
2022 mergers and acquisitions
Corporate spin-offs
Australian companies established in 2016
Energy companies established in 2016
Companies based in Melbourne