AGL Energy sold 19.9% of its 20% equity in Tilt Renewables (Tilt) to existing shareholders and other entities led by the Queensland Investment Corporation
(QIC) and the Future Fund for $750 million.
AGL's investment in Tilt had a carrying value of $321 million as at June 30 2025, and the transaction is expected to result in a gain on sale in FY26, with the final amount to be determined based on the closing date and other customary closing adjustments.
Tilt currently provides 1.6 GW of renewable generation capacity to AGL under long term power purchase agreements. The partnership has recently been bolstered with AGL committing to take 45% of the generation from Tilt's Palmer Wind Farm for a 15 year term and 100% of the generation from Waddi Wind Farm for a 15 year term.
Completion of the transaction is subject to conventional conditions precedent, including regulatory approvals from the ACCC and the Foreign Investment Review Board. Completion is expected to occur by Q3FY26.