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Genesis Energy (NZX: GNE) Tilt Renewables (NZX: TLT) Partnership: Waipipi Wind Farm Energised, Tilting NZ to Renewable Future

Tuesday 17th November 2020

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The Waipipi windfarm in South Taranaki has started generating 100% renewable, zero-emissions electricity to the national grid, strategic partners Tilt Renewables and Genesis Energy announced today.

The milestone energisation of the first turbines is largely to schedule despite the Covid-19 related shutdown of the site earlier in the year, a credit to contractors and staff at Tilt Renewables. The first generation is also the latest proof point for Genesis’ Future-gen strategy and its key role in empowering New Zealand’s sustainable future. Under their strategic partnership, Tilt Renewables owns and operates the windfarm and Genesis purchases all the energy generated.

Waipipi is Tilt Renewables’ largest New Zealand asset and Chief Executive, Deion Campbell, said to deliver a large infrastructure project like this whilst dealing with the difficulties posed by Covid-19 lockdowns underlines the company’s capabilities.

There are two elements to the Genesis-Tilt Renewables partnership: A Power Purchase Agreement (PPA) and a Dispatch Services Agreement (DSA). Under the PPA, Tilt Renewables owns and operates the windfarm and Genesis purchases the electricity generated. Under the DSA, Genesis manages the wind farm’s output and offers it into the electricity market for trading. Communication links are established between Waipipi’s control room and the Genesis Renewable Energy Control Centre at Tokaanu Power station, which shares the wind farm’s data with Transpower and the NZX.

See the links below for more details:

Waipipi Wind Farm energised, tilting New Zealand towards renewable future

Source: Genesis Energy Limited and Tilt Renewables Limited

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