Former premier Mark McGowan has landed another post-political role, taking on the non-executive chairman position at Perth-based renewables aspirant Frontier Energy.
Former premier Mark McGowan has landed another post-political role, taking on the non-executive chairman position at Perth-based renewables aspirant Frontier Energy.
In what appears a coup for the company, Mr McGowan will become Frontier chair from September 2.
In a glowing release to market this morning, Frontier spruiked Mr McGowan’s record as the premier who set the state on a path to a renewable-powered future, and said he had a “deep understanding” of the state’s electricity landscape and stakeholders.
“Mr McGowan’s government drove the decision for state-owned electricity generator Synergy to transition out of coal-fired power generation by 2030,” Frontier’s statement said.
“At the same time, Mr McGowan’s government oversaw about $3.8 billion invested in new green power infrastructure, including large-scale battery storage and renewable energy generastion projects.”
The former premier will be issued 2 million unquoted options in Frontier, comprising 1 million exercisable at 20 cents, which will vest after 12 months' continuous service.
Two further tranches of 500,000 options – one exercisable at 25 cents and one at 40 cents – will vest after two years at Frontier.
The company’s share price was 46.5 cents this morning, but jumped 9 per cent to 51 cents as a result of the news.
Should its opening value sustain over the coming years to December 2027, Mr McGowan would qualify for all his performance incentives without any share price movement.
Frontier is developing the Waroona solar project, which last week received certified reserve capacity status from the Australian Energy Market Operator to supply peaking power into the South West Interconnected System from 2027.
Mr McGowan said the project was a drawcard for him.
“Frontier’s Waroona project stands out as a significant asset in Western Australia’s transition, at a time when energy security is paramount, and the state continues to experience new demand records,” he said.
“I look forward to working closely with the company to ensure this strategy is realised for the benefit of shareholders, key stakeholders and all West Australians.”
The Grant Davey-led company took over Waroona Energy in September last year; a move that put the solar project on its books.
Frontier also owns the proposed Bristol Springs hydrogen project next door.
Mr McGowan, who cited exhaustion when he resigned from parliament in May 2023, has since taken up a series of private sector jobs – with the Frontier gig the latest.
Mr McGowan took on advisory roles at BHP, APM Services International and Mineral Resources in the latter half of last year, alongside a position with former Liberal Treasurer Joe Hockey’s advisory firm Bondi Partners.
He is also patron at RSPCA WA, and vice patron at Leadership WA and Auspire.
Frontier was announced with some fanfare by City of Perth Lord Mayor and WA Liberal candidate Basil Zempilas as the proponent of a hydrogen refuelling station in West Perth in November last November.
