Tilt Renewables buys half stake in $2b Tuan Forest Wind project

Stalled plans to build a 1200MW wind farm in a regional forest have taken a surprising twist three years after the project was first touted.

Tilt Renewables has bought 50 per cent of the proposed $2bn Forest Wind renewable project proposed to be built at the Tuan Forest between Gympie and Maryborough.

Stalled plans to open a $2bn wind farm at the Tuan Forest have taken a twist with a major renewable energy company buying half of the 1200MW property.

Australian-based Tilt Renewables has purchased a 50 per cent stake in the project from European-based wind turbine manufacturer and energy services group Siemens.

Tilt Renewables owns nine projects across the country including the Dundonnell Wind Farm at Victoria, and the Coopers Gap Wind Farm in the South Burnett and Western Downs regions.

A media release on Forest Wind’s website said Tilt Renewables brought a “proven record” to the Tuan development.

Forest Wind’s project, planned to be built in the Tuan Forest between Gympie and Maryborough, was announced with fanfare in early 2020.

Little progress has been made on the $2bn Forest Wind project, planned to be built between Gympie and Maryborough, since it was first announced in early 2020.

It was planned to be up and running in 2023, but progress has instead stalled.

In its announcement a spokesman for Forest Wind said having Tilt Renewables on board would help put the project on track.

“The Forest Wind team will draw on Tilt’s delivery experience to finalise the required approvals and get the project ready for construction,” he said.

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“Forest Wind’s immediate focus will be on developing a benefit sharing plan for the community, leveraging our experience in delivering better environmental outcomes and working closely with key stakeholders and the community to deliver the project.”

Once finished the Forest Wind farm will generate 1200MW of renewable energy.

Tilt Renewables is reportedly owned by Queensland Investment Group, AGL, and the Future Fund.

No purchase price has been mentioned.

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The Forest Wind spokesman said the company was committed to delivering on economic, environmental and social benefits for the Fraser Coast and Gympie communities.

“Building on the great relationships already in place, we will continue to work closely with the region’s First Nations people, the Queensland Government, the plantation timber industry and other key stakeholders to deliver Forest Wind,” he said.