Genesis to purchase power from 100 MW wind project in New Zealand
Genesis and Tilt Renewables have announced that they intend to partner in the development of the Waverley Wind Farm. The two companies have agreed proposed terms and conditions for a long term power purchase and services agreement, allowing Tilt Renewables to progress the project to construction, potentially as early as the first half of 2019, subject to reaching final agreement on commercial terms.
The 100 MW wind farm will be owned and operated by Tilt Renewables, and located between Patea and Waverley in South Taranaki, north-west New Zealand. Resource consent for the project was granted in July 2017, allowing for up to 48 turbines to be installed on the 980-hectare site. It could begin operating in 2020.
At 85%, New Zealand already has the third highest renewable electricity generation in the OECD, with 17 operating wind farms with a combined capacity of 690 MW.
Country updates
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September 26, 2018
Infratil maintains offer price for Tilt Renewables, disputing independent advisor
Infratil has responded to Tilt Renewables' Independent Adviser’s Report regarding its NZD2.30 (US$1.54) per share takeover offer for the company, proposed in a joint venture with M...
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September 18, 2018
Independent advisor deems Tilt Renewables takeover offer inadequate
The Independent Directors of Tilt Renewables have published the Independent Adviser’s Report on the NZD2.30 (US$1.5) per share takeover offer from the Infratil and Mercury NZ joint venture. The...
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September 06, 2018
Infratil and Mercury JV satisfy all conditions for Tilt Renewables takeover
Infratil has announced that all conditions to its full cash takeover offer for Tilt Renewables, proposed in a joint venture with Mercury NZ, have been waived or satisfied. The offer is now fully uncon...
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September 05, 2018
Independent Directors of Tilt Renewables reject acquisition bid by Infratil and Mercury
Tilt Renewables has announced that its Independent Directors Committee is advising shareholders to not accept the takeover offer of NZD2.30 (US$1.51) made by its two majority shareholders &n...
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September 04, 2018
Infratil and Mercury receive regulatory approval for takeover of Tilt Renewables
Infratil has announced its joint venture with Mercury NZ (TLT JV) has obtained approval from the Australian Foreign Investment Review Board (FIRB) to acquire up to a 100% interest in Tilt Re...
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