Otway Silva 2025_1

Otway Silva 2025_1 is a plantation forestry project located near the rural community of Simpson, roughly 20km east of Timboon and 40km southwest of Colac in Victoria's Corangamite region. Registered in October 2024, the project covers a significant area of approximately 2,173 hectares. The project has undergone rapid expansion since its initial registration, with multiple variations filed throughout 2025 to add further land to the aggregation.

The project operates under the 2022 Plantation Forestry methodology, specifically involving the establishment of new plantation forests (Schedule 1). Unlike environmental plantings which are permanent, this method allows for commercial harvesting of wood products while generating carbon credits for the carbon sequestered in the trees and wood products over time. Standard requirements for such projects involve converting land that has been clear of forest for at least seven years into a new plantation estate, typically Pinus radiata or Eucalyptus species managed for timber or pulp.

The Simpson and Heytesbury region is historically a high-production agricultural zone, famous for dairy farming and grazing due to its reliable climate. The area is classified as high rainfall, typically receiving between 800mm and 1,000mm annually. The soils in the immediate vicinity are generally clay loams or sandy loams over clay subsoils (Chromosols), which are fertile but can be prone to waterlogging in winter.

A notable aspect of this project is its corporate structure. The proponent, Otway Silva Pty Limited, is a special purpose vehicle fully owned by Munich Re, one of the world's largest reinsurance companies, via its asset manager MEAG. The project is managed on the ground by Midway Plantations, a major Australian forestry manager. This collaboration highlights the growing trend of institutional investment in Australian land for the dual purpose of timber production and carbon abatement.