Photo: theurbandeveloper.com

Tilt Renewables will be listed on both the New Zealand and Australian stock exchanges and will manage a $1.3 billion portfolio of Australian and New Zealand wind generation assets, with a significant investment pipeline.

The Andrews Labor Government worked closely with Trustpower NZ on the location of its Australasian headquarters for Tilt Renewables.

Tilt Renewables joins the growing list of Australian and international companies including Woolworths Holdings,  Go Pro, Uniqlo, Tyrells, and New Cold, that have established regional headquarters in Melbourne.

Victoria has set ambitious renewable energy targets to create thousands of new jobs and cut the state’s greenhouse gas emissions.

By 2020, 25 per cent of electricity generated in the state will come from renewable energy. By 2025, that will rise to 40 per cent. Currently, about 14 per cent of Victoria’s electricity comes from renewable sources.

It’s anticipated that by 2025, up to 5400 megawatts of new large-scale renewable energy capacity will be built in Victoria – representing an estimated $2.5 billion of investment in the state.

That means more than 4000 additional jobs in the renewable energy sector during the expected peak year of construction in 2024, and around a 12 per cent reduction in electricity sector greenhouse emissions by 2034-35.