Tilt Renewables (ASX:TLT) production up 62% in December quarter YoY

Company News

by Katrina Bullock

Tilt Renewables (ASX:TLT) has released its quarterly production results for the three months to 31 December 2020.

Total group production was up 62 per cent compared to the December 2019 quarter. This was driven by a large contribution from the Dundonnell Wind Farm which is in commissioning.

The Waipipi Wind Farm which is in construction also recorded its first generation during the quarter.

Production from fully operational Australian assets (excluding Snowtown 2 and Dundonnell) was down 4 per cent.

New Zealand production from fully operational assets (excluding the Waipipi Wind Farm) dropped 11 per cent below the December 19 quarter. This was due to lower than forecasted wind speeds and lower asset availability due to maintenance.

Shares in Tilt Renewables (ASX:TLT) closed 2.6 per cent higher at $5.60.