11 May 2017
Tilt Renewables Limited and its subsidiaries (“Tilt Renewables” or “Group”) released today its financial statements for the year ended 31 March 2017 (“FY17”) together with key highlights and operating metrics for the year. All numbers referred to in this release are in AUD millions.
The financial results for FY17 include a combined 7 months of operations under Trustpower stewardship and 5 months (31 October 2016 to 31 March 2017) under the stewardship of Tilt Renewables. The prior year comparative financials reflect the performance of Tilt Renewables’ portfolio of operating assets in Australia and New Zealand under a full 12 months of Trustpower stewardship.
In the short period since the demerger we have been focused on establishing Tilt Renewables as a stand-alone business, recruiting a strong and experienced team and positioning the company for future growth. We are looking to leverage off the long held values of Trustpower but with an increased focus on executing available development opportunities. We believe that holding a large and diverse portfolio of greenfield development options is the best way to provide sufficient flexibility to execute a range of value accretive projects as market dynamics permit.
Key highlights for FY17 Highlights for the year ending 31 March 2017 included:
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