Tilt Renewables buys half of 1.2-GW wind project in Queensland

Tilt Renewables has bought a 50% stake in the up to 1.2-GW Forest Wind project in Queensland, Australia, the Melbourne-based project developer announced on Tuesday without disclosing the size of its investment.

In an update on the project’s website, the company said it would step in to help with securing all approvals needed to move the project to the construction phase.

Forest Wind Holdings Pty Ltd, the vehicle behind the project, is a joint venture (JV) between the original project developer CleanSight and Siemens Financial Services. Tilt did not specify the name of the transaction counterparty.

The Forest Wind complex is planned to be installed in pine plantations located between Gympie and Maryborough, in southeastern Queensland’s Wide Bay region. Up to 226 turbines will be powering the complex, the construction plan of which comes with related infrastructure facilities such as substations and transmission lines.

The Australian business of Tilt Renewables is owned by Queensland government-controlled investment group QIC, utility AGL Energy and the federal government’s Future Fund. The company also has assets in New Zealand, now owned by local power retailer Mercury NZ Ltd.

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