Australian developer Tilt Renewables is conducting a strategic review of its ownership of the 270MW Snowtown 2 wind farm for a potential sale.
The wind farm, in South Australia, has been operating for more than five years, following its commissioning in 2014.
Snowtown 2 has a long-term offtake contract in place for all electricity generated and renewable energy certificates produced, providing price certainty until 2035.
Snowtown 2 is the largest renewable energy asset owned by the developer and operator and one of the largest wind farms in Australia.
Over the last two years Tilt Renewables has progressed two further projects from its development pipeline.
The company built the 54MW Salt Creek Wind farm in 2018 and recently started construction of the 336MW Dundonnell wind farm project, due for completion in 2020.
Both have long-term offtake agreements in place.
The level of contracted revenue across Tilt’s assets will remain above 80% once Dundonnell is operational.
Due to its strong revenue contracting position and the near-term investment options that are potentially available from its pipeline the company says it is the right time to consider strategic options from its existing asset base, including asset sales.
At this stage, no decisions have been made and there is no certainty that the review of Snowtown 2 will lead to any transaction.
Lazard has been engaged to assist in undertaking the strategic review.