Tilt Renewables Pty Ltd is an Australian electricity generation company. It was previously dual listed on the New Zealand stock exchange and Australian stock exchange. In 2021, the Powering Australian Renewables Fund merged with Tilt Renewables following a complex acquisition and merger, making it the largest private developer and generator of renewable electricity in Australia.
History
Establishment and pre-takeover
In 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.
In December 2019, the Snowtown Wind Farm (Stage 2) was sold to Palisade Investment Partners.
On 15 March 2021, a takeover was announced with support from the largest shareholders and independent board members. The proposed scheme of arrangement would be worth A$2.75 billion by a consortium where the New Zealand assets would be taken over by Mercury NZ and the Australian assets by Powering Australian Renewables Fund (PowAR) – itself a consortium of AGL Energy