QIC Acquires Stake in Tilt Renewables from AGL Energy

News Update 📰 : AGL Energy has sold most of its stake in Tilt Renewables to QIC and the Future Fund for A$487 million, marking a strategic shift to focus on its core energy and retail operations. The deal includes a 49% stake in PowAR, which owns Tilt’s Australian assets, and reflects strong institutional appetite for renewable energy investments in the region. This move highlights the growing role of public and private capital in accelerating Australia’s clean energy transition. As major players realign their portfolios, it’s encouraging to see long-term investors backing renewables—signaling confidence in the sector’s future and the broader push toward decarbonisation. https://lnkd.in/gguim9RY

Australian energy firm AGL said on Thursday it has signed a power purchase agreement with wind farm operator Tilt Renewables, marking the first long-term wind-energy offtake deal for its Western Australian division. https://lnkd.in/dumm6kUW Reporting for Reuters

Bladestar Renewables Ltd has secured a three-year framework agreement with ScottishPower Renewables, strengthening its position as a trusted provider of wind turbine blade repair and inspection services across the UK https://lnkd.in/eRc8GmcP

AGL Energy sells 19.9% stake in Tilt Renewables to QIC-led group for A$750 million, reinforcing its capital recycling strategy and renewable energy commitments. https://lnkd.in/dGspWidn

US solar and storage developer Pine Gate Renewables has announced plans to pursue a strategic sale of all its assets and business operations. Pine Gate stated that operations will continue without disruption while ownership of its project portfolio transitions to new investors. To support operations during this process, Pine Gate has secured new financing commitments from existing lenders. These funds will be used to maintain business continuity and progress projects currently under development or construction. As part of the agreements, several lenders will act as “stalking horse bidders” for defined asset portfolios, subject to higher or alternative offers. This includes the potential sale of the company’s independent power producer platform and development pipeline, which comprises around 10 GWdc of safe-harboured new project capacity. To facilitate the sale, Pine Gate and select subsidiaries have voluntarily filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas. The company expects the marketing and sales process to conclude within approximately 45 days. ACT Power Services, Pine Gate’s operations and maintenance subsidiary, is not part of the Chapter 11 process and remains in discussions with potential buyers for a separate sale. “Since our founding almost 10 years ago, Pine Gate has grown tremendously, deploying innovative solar and energy storage projects at scale that enable us to deliver renewable, reliable, and affordable energy,” said Ben Catt, Chief Executive Officer of Pine Gate. “To ensure that our projects continue generating renewable energy, we made the strategic decision to commence this court-supervised sales process. With significant financial support from certain of our current lenders, we’re confident that we will successfully conduct a competitive sales process that reflects the inherent value of our nationwide portfolio of solar and energy storage projects.” Catt added: “I’m grateful for the hard work and dedication of the Pine Gate team who has been key to helping us drive the renewable energy transition. As we move through this process, we remain committed to supporting our valued project partners across our more than 100 operational solar facilities and forging ahead with our projects in development and under construction.” Pine Gate has also filed standard “first day” motions to ensure continued payment of wages, benefits, and obligations to commercial partners. The company expects prompt approval from the court. In addition, Mark Rajcevich, Managing Director at Alvarez & Marsal, has been appointed Chief Restructuring Officer. https://lnkd.in/g4DHSxsD #cleanenergy

Renewables Now Live: German energy group RWE AG (ETR:RWE) is expanding its position in the Italian renewables market with the start of construction of two wind farms totalling 92 MW. #renewableenergy

Renewables Now Live: US independent power producer Treaty Oak Clean Energy LLC, a Macquarie Asset Management portfolio company, on Thursday said it has signed long-term power purchase agreements (PPAs) for 385 MW of solar in Louisiana with Meta Platforms Inc (NASDAQ:META). #renewableenergy

Renewables Now Live: PPC Renewables Romania, part of Greek power utility PPC S.A. (ATH:PPC), said on Thursday it will expand its Deleni wind farm in Vaslui county, north-eastern #Romania, by 85 MW, increasing the total installed capacity of the project to over 225 MW. #renewableenergy #onshorewind

💰 A$750 Million Power Move — AGL Sells Tilt Stake to Fund 6 GW Storage Push Australian energy giant AGL Energy has announced the sale of its 19.9% stake in Tilt Renewables to a consortium led by QIC and Future Fund for A$750 million (≈ US$488 million) — a deal set to supercharge AGL's battery storage expansion. 🔋 Deal Snapshot: 🔶 Transaction Value: A$750 million 🔶 Use of Proceeds: Directly reinvested into battery energy storage system (BESS) projects 🔶 Target: 6 GW of new storage and renewables by FY2030 🔶 Current Progress: A$900 million already invested; 2 GWh project application filed in Queensland 🔶 Strategic Ties: Two 15-year PPAs signed with Tilt Renewables for Palmer (123 MW) and Waddi (105 MW) wind farms ⚙️ Why Sell Tilt Instead of Other Assets? 1️⃣ The sale yields strong returns — from an initial A$321 million investment to A$750 million. 2️⃣ AGL's key gap lies in flexible, dispatchable capacity (i.e., battery storage). 3️⃣ AGL retains 0.1% ownership and locks in 1.6 GW of renewable supply through long-term PPAs. 💡 Strategic Insight: This is not just a "cash-out" move. AGL is shifting from a "holding-based return" model to an "asset rotation and reinvestment" model. While renewable generation assets offer limited growth upside, storage assets can deliver steady returns through energy arbitrage, grid services, and capacity markets. AGL CEO Damien Nicks highlighted that this transaction directly supports AGL's energy transition strategy and its shift toward flexible capacity solutions. 💬 Question for the community: As renewables dominate generation mix, could “dispatchability” replace “installed capacity” as the new core value metric for power assets? Source: AGL #EnergyTransition #BatteryStorage #AGL #RenewableEnergyMarkets #AustraliaEnergy #BESS 

Renewables Now Live: Scottish renewables developer Muirhall Energy has achieved financial close on a 43.6-MW wind project in South Lanarkshire, a project that was consented by the local council several years ago. #renewableenergy #windfarm