Court orders approving Trustpower's proposal to split its Australian solar and wind farms from the company's hydro gas and broadband were granted this week.

Trustpower chief executive Vince Hawksworth says the two new companies will appeal to differently to different investors.

'Trustpower has been very successful in developing a large pipeline of new project opportunities in Australia for new renewable wind or solar,” says Vince.

Australia's current electricity generation is about 85-90 percent fossil fuel mostly coal powered, but doing the new renewable projects requires a lot of capital.

'The view the board came to that we took to shareholders and got a positive vote on, was that by having a business that was focused on just that; building, constructing and operating new wind generation – shareholders will be able to choose to invest in that - which is a big growth opportunity.

'And the remainder, which is the Trustpower retail business and our hydro generation in New Zealand and Australia is much more characteristic of a yield type of investment which won't be looking for lots of new capital in the short term.”

All conditions relating to the demerger have been met and the Tauranga based energy company has produced a time table for the partition into Tilt Renewables and Bay Energy Ltd, the new Trustpower.

Tilt Renewables holds Trustpower's Australian and New Zealand wind generation assets and its wind and solar development projects.

Bay Energy Limited (New Trustpower) will continue to operate Trustpower's New Zealand and Australian hydro generation assets and its multi-product New Zealand retail business. New Trustpower will retain Trustpower's name and brand.

Both Tilt Renewables and New Trustpower will be listed on the NZ Stock Exchange Main Board. Tilt Renewables is also expected to be listed on the ASX. Trustpower Shares will cease trading on the NZX Main Board at 5pm on October 26, 2016.

All Trustpower Shareholders at this time and date will be entitled to receive Tilt Renewables Shares and New Trustpower Shares, which will begin trading on the NZX Main board on a conditional settlement basis on October 28, 2016.

Tilt Renewables Shares begin trading on the ASX on a deferred settlement basis on the same day.

The Implementation Date of the Scheme in October 31, 2016. The Distribution Date of Tilt Renewables Shares and New Trustpower Shares to Trustpower Shareholders is November 1, 2016.

Normal trading of Tilt Renewables Shares and New Trustpower Shares commences on the NZX Main Board on November 1, 2016.