Otway Silva 2024 Carbon Project_1

Otway Silva 2024 Carbon Project_1 is a plantation forestry project located in the Corangamite Shire of southwest Victoria, approximately 15km southeast of Timboon. Registered on December 5, 2023, the project covers a total area of approximately 878 hectares. The site is situated in a region renowned for its reliable high rainfall and fertile clay-loam volcanic soils, conditions that have historically supported intensive dairy farming and grazing but are increasingly utilized for commercial forestry operations.

The project operates under the Carbon Credits (Carbon Farming Initiative-Plantation Forestry) Methodology Determination 2022. It involves the establishment of a new plantation forest on land that has not recently been forested, specifically designed for the commercial harvesting of wood products. By planting trees, the project sequesters carbon in the biomass of the forest and arguably in the long-term wood products created after harvest. The project is managed by Midway Plantations Pty Ltd, a prominent Australian forestry manager, with Otway Silva Pty Limited acting as the proponent, a special purpose vehicle likely established to hold these carbon assets.