Squadron Energy

Investment fund managers IFM Investors and QIC have inked Australia’s largest power purchase agreement worth $700 million through its infrastructure renewable energy program which has a potential total size at peak of 500 GWh per year.

Andrew Forrest’s Squadron Energy has lodged documents with the New South Wales government in a forward step on its proposed 2 GW Koorakee Energy Park that is to include a 1 GW solar farm and 1 GW of wind energy backed by a 1 GW / 12 GWh battery energy storage system.

Squadron Energy, the private renewables group controlled by the billionaire Forrest family, has pledged to deliver 14 GW of new clean energy generation and storage projects in Australia by the end of the decade.

A consortium led by tech billionaire Mike Cannon-Brookes’ Grok Ventures and including green energy investment manager Quinbrook Infrastructure Partners has been successful in acquiring the giant $35 billion Sun Cable renewable energy project.

The sale of renewable energy developer Sun Cable, which is aiming to deliver the world’s biggest intercontinental solar and storage project in northern Australia, has received initial takeover offers from multiple investors, including prospective buyers that aren’t existing shareholders in the project.

Two of Australia’s richest people are expected to be rivals in the bidding process for Sun Cable, the developer of what would be the world’s biggest intercontinental solar and energy storage project, with administrators indicating the sale process could be completed within three months.

Squadron Energy, part of the Forrest’s family’s Tattarang Group, has acquired one of Australia’s biggest renewables players, CWP Renewables. The deal, reportedly worth more than $4 billion (USD 2.7b), came as something of a surprise with Squadron’s bid undetected beside highly publicised offers from Iberdrola, Tilt Renewables and Origin.

Australian resources company Squadron Energy has commenced construction on a 1.2 GW hybrid wind, solar and battery energy storage project in Central Queensland that is expected to deliver crucial capacity into the grid as Australia transitions to a renewable energy future.

Sun Cable’s ambitious plans to build the world’s largest solar PV and battery energy storage project in Australia’s remote far north are a step closer to fruition after two of the nation’s richest men provided their backing for a $210 million capital raise.

Construction is set to commence immediately on the first stage of a 1.2GW hybrid wind, solar and battery energy storage project in Central Queensland following Australian iron ore magnate Andrew Forrest’s announcement that he has invested $3 billion in the ‘shovel ready’ development.