June 28 (Renewables Now) - New Zealand-based Tilt Renewables Ltd (NZE:TLT) has decided to carry out a strategic review of its largest asset -- the 270-MW Snowtown 2 wind farm in South Australia.
The company has hired Lazard to assist in reviewing its ownership of the plant, while MUFG will provide debt advisory services.
Tilt Renewables said in a statement that this is an appropriate time to consider its options with regard to existing assets, given its strong revenue contracting position. The company noted that with the 54-MW Salt Creek wind farm, which was put on stream last year, and the 336-MW Dundonnell wind park, which is due to be completed in 2020, the level of contracted revenue across Tilt Renewables’ asset base will remain above 80%.
The Snowtown 2 wind park was finalised in 2014 and has been generating power for five years now. It has a long-term off-take contract for 100% of the generated electricity and renewable energy certificates that ends in 2035.