Renewables developer Tilt Renewables will go private after a $2.75 billion bid. 

The AGL Energy-backed Powering Australian Renewables fund and New Zealand utility Mercury NZ are taking the company private, following a bid that will see Tilt Renewables split up, with the Australian and New Zealand parts of the business acquired by different members of the takeover consortium.

Powering Australian Renewables is a partnership between energy firm AGL Energy (20 per cent), Queensland Government investment group QIC (40 per cent) and the federal government’s Future Fund (40 per cent).

More details are accessible here.