Tilt Renewables Support Agreement Dundonnell Wind Farm
Attached is the market release from Tilt Renewables Limited (Tilt Renewables) advising that it has accepted an offer from the Victorian Government to enter into a Support Agreement in relation to approximately 37% of the output from the fully permitted Dundonnell Wind Farm (Dundonnell).
Dundonnell is a major development project in Tilt Renewables' portfolio, and one which Infratil supports.
Tilt Renewables has stated in its market release that approximately A$280m of Dundonnell's construction costs are expected to be funded via an equity raising. As noted in that release, Infratil has provided a conditional commitment to subscribe for its entitlement in that equity raising. Infratil's entitlement will include all shares acquired by Infratil 2018 Limited under the TLT JV's full cash takeover offer for Tilt Renewables, the acceptances for which are currently 78.12%.
1. Infratil 2018 Limited currently holds 58.13% of the shares and will hold all other shares accepted into the offer. Mercury NZ Limited will maintain its shareholding at 19.99%.
Any enquiries should be directed to:
Mark Flesher, Investor Relations, Infratil Limited (email@example.com)