Forrest’s Squadron Energy moves on green energy plan

Andrew Forrest says he's committed to financing Squadron Energy's ambitious development pipeline to deliver 14 gigawatts of renewable energy, after breaking ground on a wind farm in New South Wales.

Squadron Energy- under the Forrest's Tattarang umbrella- has pledged to deliver 14GW of green electricity by 2030 through its development pipeline, estimated to power the equivalent of six million homes. 

The company simultaneously announced that it had reached a $2.75 billion wind turbine supply deal for its development pipeline with GE Vernova.

Under the deal, GE Vernova will supply Squadron's 411 megawatt Uungula wind farm- which is broke ground on today- with $1 billion worth of GE 6MW wind turbines alongside engineering, procurement and construction services. 

It will also supply turbines for Squadron's next two NSW projects – the Spicers Creek and Jeremiah wind farms.

It comes as Squadron announced that it had started work on its $820 million Uungula wind farm to be built near Wellington, NSW.

The 69-turbine project is expected create 260 jobs, and inject about $41 million into the local economy, according to Squadron. 

It forms part of the company’s pledge to deliver 14 gigawatts of green electricity, with a further 6GW in the development pipeline to follow. 

Squadron chair Mr Forrest said he was committed to financing Squadron’s 14GW development pipeline. 

He said it supported the federal government’s renewable energy targets.

“This is a huge announcement from a major Australian company that is getting on with the job of building the renewable energy capacity required to deliver the green power Australia urgently needs,” Mr Forrest said.

“The time for talk is over, we are investing right now in Australia’s green energy transition and creating jobs and economic development for regional Australia.”

Tattarang director Nicola Forrest, who grew up on a farm at Spicers Creek just a few kilometres from the site, said she was proud to be investing in the local community. 

“Projects such as Uungula wind farm can be a positive force for regional communities that create not just jobs but build skills and broader economic opportunities,” she said.

“I’m so pleased that this area near Wellington will be at the forefront of the green energy transition and that we will be able to create long term positive impacts both directly and indirectly through this commitment to the community.”

Minister for Climate Change and Energy Chris Bowen said the government welcomed Squadron Energy's sod turning and its ambitious 14GW renewable and storage development pipeline. 

“These projects are further proof renewable energy investors are getting on with the job, capitalising on Australia's huge renewable potential, and helping transform our energy grid for the 21st century,” he said.

“Firmed renewable energy and storage is not only the cheapest form of energy but provides crucial reliability as increasingly old and unreliable coal fired power stations inevitably exit the system.”