Tiwi Plantations Corporation Launches $81M Sustainable Forestry Project on Melville Island
The Tiwi Plantations Corporation has launched an $81 million sustainable forestry project on Melville Island, focusing on planting 30,000 hectares of Eucalyptus pellita. Managed by Midway and supported by the Clean Energy Finance Corporation and River Capital, the initiative aims to create local jobs, generate approximately 5 million Australian Carbon Credit Units, and promote community involvement among the eight Tiwi clans, while addressing past ecological issues from acacia plantations.
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The Tiwi Plantations Corporation is initiating a sustainable forestry project on Melville Island, aiming to plant 30,000 hectares of Eucalyptus pellita. This project, governed by the eight Tiwi clans, will be managed by Midway and is backed by an $81 million investment from the Clean Energy Finance Corporation and River Capital.
It seeks to create local employment opportunities and generate carbon credits, with expectations of producing around 5 million Australian Carbon Credit Units (ACCUs) over its lifespan. The Eucalyptus pellita species is selected for its environmental suitability and resilience, aiming to mitigate previous ecological issues caused by acacia plantations. The project emphasizes community involvement and self-determination for the Tiwi people, with anticipated long-term economic benefits through sustainable timber production.
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