View source for Powering Australian Renewables Fund

{{Use Australian English|date=March 2021}}
{{Use dmy dates|date=March 2021}}
{{Infobox company
|name             = Powering Australian Renewables
| type = [[Investment fund]]
| industry = [[Renewable energy]]
| founded = {{start date and age|2016}}
| location_country = Australia
| owners = {{plainlist|
* [[Queensland Investment Corporation|QIC]] {{small|40%}}
* [[Future Fund]] {{small|40%}}
* [[AGL Energy]] {{small|20%}}
}}
}}
'''Powering Australian Renewables''' (PowAR) is an Australian infrastructure [[investment fund]] closely associated with but independent from [[AGL Energy]].<ref>{{cite web|url=https://www.agl.com.au/about-agl/what-we-stand-for/sustainability/powering-australian-renewables-fund/frequently-asked-questions|title=Powering Australian Renewables Fund FAQs - AGL |access-date=22 April 2017}}</ref>
Initial investment in PowAR was $200M from AGL, and up to $800M from each of [[Queensland Investment Corporation|QIC]] Global Infrastructure Fund and the Australian [[sovereign wealth fund]], the [[Future Fund]].<ref>{{cite web|url=http://www.news.com.au/finance/business/breaking-news/agl-signs-up-investors-for-renewables-fund/news-story/cead637aaf864520258dbdbfe63ee84f|title=AGL signs up investors for renewables fund|date=26 July 2016|access-date=22 April 2017}}</ref>
PowAR’s initial assets included the [[Nyngan Solar Plant]] and the [[Broken Hill Solar Plant]], both developed by AGL Energy in 2015. It added [[Silverton Wind Farm]] and [[Coopers Gap Wind Farm]] soon after, both developed by AGL. In 2021, PowAR was a partner in a consortium formed to take over [[Tilt Renewables]]. PowAR would receive the Australian assets of Tilt Renewables, with [[Mercury NZ]] to receive the New Zealand assets.<ref>{{cite news |url=https://reneweconomy.com.au/agl-leads-renewable-power-play-in-agreed-2-75-billion-bid-for-tilt/ |title=AGL leads renewable power play in agreed $2.75 billion bid for Tilt |date=15 March 2021 |access-date=15 March 2021 |first=Michael |last=Mazengarb |first2=Giles |last2=Parkinson |newspaper=[[Renew Economy]]}}</ref>
In August 2021, PowAR took over the Australian assets and operations of the former [[Tilt Renewables]], making it the largest private developer and generator of wind and solar electricity in Australia. The combined organisation was subsequently renamed to Tilt Renewables.<ref>{{cite web |url=https://www.qic.com/Investment-Capabilities/Infrastructure/Global-Portfolio/Tilt-Renewables |title=Tilt Renewables |publisher=[[Queensland Investment Corporation]] |access-date=10 September 2024}}</ref> It holds the assets of both former entities, and is owned 40% by QIC, 40% Future Fund and 20% AGL.<ref>{{cite web |url=https://www.tiltrenewables.com/about-tilt-renewables/tilt-story/ |title=Why we tilt |publisher=Tilt Renewables |access-date=10 September 2024}}</ref>
==References==
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[[Category:Investment funds]]
[[Category:Funds]]