Otway Silva 2026_1 Carbon Project

Otway Silva 2026_1 Carbon Project is a plantation forestry project located across the Corangamite and Glenelg local government areas in south-west Victoria, spanning regions from near Port Campbell (approximately 60km south-west of Colac) to the Green Triangle region near Casterton. It was registered in October 2025 and covers an initial area of 460.51 hectares.

Plantation forestry projects generate carbon credits by establishing new commercial plantations or by converting existing short-rotation plantations (such as pulpwood) to long-rotation forests (such as sawlogs). The methodology requires managing the forest for the commercial harvesting of wood products while ensuring the trees meet specific canopy cover and stocking density requirements.

The Corangamite and Glenelg regions are highly productive agricultural zones well known for intensive dairy farming, sheep and cattle grazing, and extensive commercial forestry operations. The regional environment is characterised by a temperate, high-rainfall climate. Soils in the Corangamite area are often rich volcanic basalts and clay loams, while the Glenelg region typically features sandy loams and sands over clay, both of which are highly suitable for commercial timber species like Tasmanian blue gum and Radiata pine.

This project sequesters carbon by establishing and maintaining a new plantation forest alongside converting short-rotation crops to long-rotation forestry. On 5 February 2026, a variation was approved to add further land areas to the project scope. The project involves Midway Plantations Pty Ltd as a key participant, leveraging their significant forestry operations in the region. Interestingly, this project is part of a major strategic partnership in which Otway Silva acquired Midway Limited's 17,000-hectare Victorian estate for $154.1 million and committed a further $200 million to develop new hardwood plantations managed by Midway across south-west Victoria.