Tilt’s enemy is real – there’s not enough wind to move its windmills
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Tilt Renewables says energy production from its tilting windmills and solar panels was down 10 per cent in the December quarter.
The problem was that the wind simply didn’t want to blow in both Australia and New Zealand.
Tilt (ASX:TLT) has two producing wind farms in New Zealand with three under development, and three in Australia with four wind and solar farms under development. It has been developing ’tilting’ technology that allows windmills and solar panels to move to capture the most wind or sun.
The New Zealand company generated 463 gigawatt hours (GWh) of power in the December quarter, compared to 513 GWh in the same period in 2016.
“Wind conditions across the portfolio were lower on average compared to long-term expectation for the majority of assets over the quarter,” the company said.
Energy production at the Australian farms dipped 7 per cent compared to the same quarter in 2016 thanks to lower wind conditions in South Australia.
In New Zealand, wind speeds were still below long-term expectations, down 15 per cent on the year before, and it didn’t help that 2016 was a particularly windy year.
Tilt has been contacted for comment.