Tilt Renewables March 2021 quarterly production results

MKTUPDTE

Wed, Apr 14 2021 02:29 pm

NZX AND ASX ANNOUNCEMENT

14 April 2021

Tilt Renewables March 2021 quarterly production results

Tilt Renewables (“TLT”) presents its production results for the three months from 1 January 2021 to 31 March 2021 (“March 21 quarter”).

For the March 21 quarter, total group production was 85% above the March 20 quarter result, primarily driven by a 211 GWh contribution from the 336MW Dundonnell Wind Farm (“DDWF”, which is in commissioning) and a 77 GWh contribution from the 133MW Waipipi Wind Farm (“WWF”), which was in commissioning for the first 2 months before reaching commercial operations on 5 March 2021.

Production from fully operational Australian assets (excluding DDWF) was 11% below the March 20 quarter, due to lower wind speeds, network outages in Victoria and curtailment of Snowtown Wind Farm due to AEMO constraints in South Australia and negative price dispatch intervals, where TLT assets were turned down to optimise revenue outcomes (combined impact ~13GWh during the quarter).

New Zealand production from fully operational assets (excluding WWF) was 23% below the March 20 quarter, due to lower than forecast wind speeds and lower asset availability. Lower availabilities were due to a mid-life major maintenance program targeting a number of turbines at Tararua Wind Farm Stage 3, and unplanned transmission line outages at Mahinerangi Wind Farm.

Refer table and graph in the attached announcement.

For further information, please contact:
Steve Symons
Chief Financial Officer
Tilt Renewables
Phone +61 419 893 746

ENDS