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The 270 MW wind farm will be sold to an entity run by Palisade. The project an enterprise value of over AU$1.07 billion.
Tilt Renewables (ASX:TLT), a wind energy company announced that it has sold its Snowtown 2 wind farm to an entity run by Palisade Investment Partners. Valued at over AU$1.07 billion, the transaction will include the sale of AU$472 million shares in addition to the sale of its project financing facility, worth AU$611 million.
As quoted in the press release:
Deion Campbell, Chief Executive of Tilt Renewables said “the sale of Snowtown 2 is consistent with Tilt Renewables’ focus on delivering shareholder value from market opportunities and ensuring capital is available to execute near‐term, high‐value opportunities from its development pipeline. It is pleasing to see the market acknowledge the quality of this asset, which is representative of the quality of the rest our operational and development portfolio and the value our highly experienced team can create for
shareholders over time.We are confident that Palisade has the experience and credentials to continue to successfully operate Snowtown 2 and maintain the strong relationships established with key project stakeholders. In particular the local Snowtown community and project landowners, with whom we will continue to maintain a connection via our Snowtown 1 asset.”