Midway Pty Ltd (Midway), one of Australia’s leading plantation and carbon management companies, is proud to deliver one of the nation’s largest plantation carbon initiatives.
Partnering with the indigenous owned Tiwi Plantations Corporation and backed by the Clean Energy Finance Corporation (CEFC) and fund manager River Capital, Midway is managing the establishment of 30,000 hectares of Eucalyptus pellita (red mahogany) plantations on the Tiwi Islands.
The plantation is forecast to generate around five million Australian Carbon Credit Units (ACCUs) over its 25-year life, with the first two projects registered with the Clean Energy Regulator forecast to deliver an estimated 865,000 ACCUs.
Tony McKenna, CEO of Midway said: “It is a privilege for Midway to be able to leverage our relationships and expertise to bring together this collaboration between the Tiwi community, River Capital and the CEFC to deliver a landmark carbon initiative.
“We have been pleased to act as the trusted lead, navigating the investment structuring, regulatory, silvicultural and market components of plantation carbon project development to secure this historic outcome, which will provide generational benefits for the Tiwi people.”
The project is already delivering up to $3 million annually into the Tiwi economy, creating sustainable employment, training and community development. In addition to its carbon benefits, the plantation is expected to generate approximately 12 million cubic metres of timber over its life, which will be transported via the Tiwi-owned Port Melville for use primarily in high value timber products.
The project includes the establishment and ongoing management of a seedling nursery on Melville Island, with capacity to grow more than 3 million seedlings annually, providing additional employment and training opportunities. In partnership with the Tiwi Island Training and Employment Board (TITEB), dedicated employment pathways are being developed across all levels of the operation, ensuring long-term skills development and meaningful participation by the local community.
Mr McKenna acknowledged the support of corporate advisory firm Azure Capital and commercial law specialists SBA Law who each provided strategic guidance for the partnership.
He said the visionary project, provides a sustainable blueprint for future investor engagement.
“The Tiwi Islands plantation shows what’s possible when Midway’s well credentialed plantation and carbon management team works together with investors to provide tailored solutions. It is a model we are proud to deliver and one we are ready to replicate with global partners, connecting investors to long-term, high-integrity carbon projects,” Mr McKenna said.
With demand for nature-based carbon credits expected to double over the next decade, Midway is positioning itself as a lead agent, attracting institutional capital to enter Australia’s maturing carbon economy.