Australian power retailer AGL probes stake in Tilt Renewables (updated)

AGL Energy

12/06/2025 01:13

Updates with details and background from paragraph 2 onwards

June 12 (Reuters) - Australian power retailer AGL Energy AGL.AX said on Thursday it is conducting preliminary investigations into its stake in green energy developer Tilt Renewables.

AGL's announcement followed a report by the Australian Financial Review earlier in the day, which said the company had appointed Bank of America's local head of infrastructure and utilities, Sam Watson, to lead a sale process for its 20% stake in Tilt Renewables.

     The power retailer did not provide details but noted that it was not currently in discussions with any potential buyers.

In 2021, Tilt Renewables was acquired by a group that included its then second-largest shareholder and AGL for NZ$2.94 billion ($1.77 billion).

($1 = 1.6573 New Zealand dollars)

 (Reporting by Rishav Chatterjee in Bengaluru; Editing by Sherry Jacob-Phillips)

 ((Rishav.Chatterjee@thomsonreuters.com;))