18 Jan 2019
In the three months to 31 December 2018 (Dec-18 quarter) group production across the Tilt Renewables’ portfolio was approximately 12% above the prior corresponding period, despite New Zealand production being slightly below that of the Dec-17 quarter and long-term expectations. Year-to-date (YTD) production from Tilt Renewables’ portfolio of eight operational wind farms, was nearly 1.6 TWh.
The strong FY19 year-on-year performance by the Australian assets continued into the Dec-18 quarter with production reaching 21% higher than the prior corresponding period. This result is attributable to higher wind conditions and the contribution of the Salt Creek Wind Farm, which has produced in line with expectations since commissioning in July 2018. Negative impacts during the quarter included approximately 5GWh of curtailed production due to the AEMO South Australian System Strength Constraint.
In New Zealand, YTD production was 16% above the prior 9-month period but in contrast to Australia, the Dec-18 quarter production softened to 5% below the Dec-17 quarter. FY19 YTD production from New Zealand assets remains in line with long-term average expectations.
Tilt Renewables maintains its previously announced EBITDAF* guidance range of AUD $134 to 138 million for FY19 (ending 31 March 2019).
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