AUSTRALIA

Squadron to lead Australia’s energy transition

Australian company Squadron Energy (Squadron) recently announced it has acquired CWP Renewables (CWP), in an agreement that takes Squadron’s renewable energy operating portfolio to 2.4 gigawatts with an Australian development pipeline to 20GW.

Squadron, part of the Tattarang group of companies, is 100% Australian owned and operated, and dedicated to accelerating Australia's decarbonisation. Once fully operational, Squadron’s portfolio will provide enough electricity to power 8.5 million homes, more than double the number of homes in New South Wales.

CWP will be integrated into Squadron’s existing business, which includes majority ownership of Windlab, and provide Squadron with the scale it requires on the east coast of Australia to meet the huge demand from large commercial and industrial customers for reliable green energy.

“Squadron is proud to bring a very significant portion of Australia's renewable energy assets home to local ownership,” said Chairman of Tattarang Dr Andrew Forrest. “We share a vision of Australia and the world. We want to look back on the dark era of fossil fuel as an aberration in humanity’s history. One that could have ended with that fuel, but is now powered by cheap, pollution free, democratic inexhaustible energy.

“It is paramount that Australia continues to increase cost-efficient renewable green energy, to economically power homes and industry at pace and rid the Australian consumer of its forced reliance to increasingly expensive, dangerously pollutive fossil fuels.”

CWP is a vertically integrated renewables energy business that spans wind, solar and battery farms, and provides renewable energy to Transurban, Woolworths Group, Sydney Airport, Commonwealth Bank and Snowy Hydro. It has approvals in place to construct four more wind farms in New South Wales, totalling over 750MW, along with a construction ready 414MW wind farm, 180MW solar farm, two battery farms and a firming power station capable of using hydrogen, biofuels and hydrogen gas blends.

“We are realising significant value by combining CWP's wind, solar and battery farm portfolio with Squadron’s existing renewable power and firming assets,” said Dr Forrest.

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