Wednesday, 22 August 2018

Announcement

GENERAL: TLT: December 2017 Quarter Generation Production Results

17 Jan 2018 08:30NZX
Market Announcement
Dated: 17 January 2018

Tilt Renewables December 2017 quarter production results

Tilt Renewables Limited ("Tilt Renewables") advises that group production for
the three months to 31 December 2017 was 10% below the prior year result.
Wind conditions across the portfolio were lower on average compared to
long-term expectation for the majority of assets over the quarter, despite
asset performance being strong and averaging 97% availability across Tilt
Renewables'' fleet of 307 wind turbines in the December 2017 quarter.
Production from the Australian portfolio in the December 2017 quarter was 7%
down on the prior year, predominantly due to lower wind conditions in South
Australia.
New Zealand wind speeds continued to be below long-term expectation with
production on a Year To Date (9 months to 31 December 2017) basis continuing
to track at P90 confidence levels (i.e. 90% probability that generation will
be above this level which can be thought of as a 1 in 10 year downside
event).  The poor year-on-year comparison reflects this underperformance plus
the non-repeat of strong wind conditions in New Zealand in 2016.

Dec-17
quarter (GWh) Dec-16 quarter (GWh) % variance
Dec quarter (year on year) 9 months YTD FY18
(GWh) % variance to YTD FY17 (year on year) % variance to YTD long-term
expectation
Australia 304 327 (7%) 895 (11%) (6%)
New Zealand 159 186 (15%) 437 (20%) (15%)
Total 463 513 (10%) 1,332 (14%) (9%)

For further information please contact:
Steve Symons
Chief Financial Officer Phone: +61 419 893 746
End CA:00313103 For:TLT    Type:GENERAL    Time:2018-01-17 08:30:30
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