Powering Australian Renewables, a partnership between AGL, investment manager QIC and Australia’s sovereign wealth fund, and Mercury NZ, a New Zealand electricity generation and electricity retailing company, agreed to acquire Tilt Renewables, an electricity generation company, from Infratil, an infrastructure investment company, for A$2.2bn. "PowAR has already established itself as a successful renewable energy owner and operator, and with the strategic addition of Tilt to cement its position as Australia’s largest renewable energy generation platform, it is well-positioned for future growth," Ross Israel, QIC Head of Global Infrastructure.