Sharechat Logo

Infratil Limited (NZX: IFT) Strategic Review of Shareholding in Tilt Renewables

Monday 7th December 2020

Text too small?

Infratil advises that it intends to undertake a strategic review of its shareholding in Tilt Renewables Limited (Tilt).

Tilt is a leading renewables platform in Australia and New Zealand, with a portfolio of high quality operating assets, a significant development pipeline and a professional team with proven ability to deliver. Tilt is listed on both the NZX and ASX and Infratil currently owns 65.5% of the outstanding shares.

Infratil has recently received a number of enquiries in relation to its Tilt shareholding. Given strong demand for high quality renewables platforms globally, Infratil considers it is prudent to assess alternatives for its Tilt shareholding, including divestment of its position. Any decision to pursue a particular proposal would need to demonstrate a material increase in expected returns and shareholder value relative to the current positive outlook. The strategic review is scheduled to be concluded within six months.

Marko Bogoievski, Infratil CEO, said “Infratil remains committed to deploying capital in renewable energy globally and has established scaled platforms in Australia, New Zealand, United States and Europe. We continue to assess opportunities in other geographies while evaluating the rate of development in our existing markets. We continue to be highly supportive of Tilt and its management team, however, the strong interest in Tilt has tipped the balance in favour of initiating the strategic review today.”

Following construction of its Waipipi wind farm, Tilt will have 343 operating turbines across 9 wind farms in Australia and New Zealand, with a total installed capacity of 836MW. Tilt also has a significant development pipeline of wind and solar projects, with approvals for more than 2,500MW of installed capacity.

We will continue to update the market of any material developments.

Goldman Sachs has been engaged to assist in undertaking the strategic review.

See the link below for more details:

Infratil announces a strategic review of its shareholding in Tilt Renewables Limited

Source: Infratil Limited

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Greenfern Industries Limited (Greenfern) Normanby Power Station Gets Green Light
Just Life Group Limited (NZX: JLG) to Acquire Business of About Health and Raise Capital
Tourism Holdings Limited (NZX: THL) Market Update
Delegat Group Limited (NZX: DGL) 2021 Harvest Announcement
Kiwi Property Group Limited (NZX: KPG) Gives Green Light to New Sylvia Park Office Building
Just Life Group Limited (NZX: JLG) Invests in Domestic Rainwater Tank Business
NZME Limited (NZX: NZM) NZ Markets Disciplinary Tribunal Censures
Rua Bioscience Limited (NZX: RUA) Announces CCO with Global Pharma Experience
Cannasouth Limited (NZX: CBD) Supply Activity Added to Cannasouth Commercial Licence
Skellerup Holdings Limited (NZX: SKL) Upgrades FY21 Earnings Guidance