It's a landmark milestone for renewable energy in Australia and the next step in Squadron Energy’s commitment to delivering 14GW of green electricity, powering the equivalent of six million homes. There is a further 6GW in Squadron’s development pipeline to follow.
Squadron Energy, a wholly owned portfolio company of Tattarang, is the only company to reach financial close on a wind farm in Australia and the only company to open a major grid connected wind farm in 2023.
Tattarang Chairman Dr. Andrew Forrest AO said he was committed to financing Squadron’s 14GW development pipeline to support the Australian government in achieving its renewable energy targets.
“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," said Forrest.
Forrest said he supported the Federal Government’s Capacity Investment Scheme as a mechanism to supercharge renewable energy development.
“No longer will we have to rely on expensive, volatile, planet destroying fuels. We will have secure and inexpensive energy from a huge new industry for Australia.”
Tattarang Director Nicola Forrest AO, who grew up on a farm at Spicers Creek just a few miles from the site of Uungula Wind Farm, 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 Albanese Government welcomes Squadron Energy's sod turning on the Uungula Wind Farm and its ambitious 14GW renewable and storage development pipeline.”
Jason Willoughby, CEO of Squadron Energy, said Uungula Wind Farm would strengthen the regional NSW economy and reduce the cost of electricity.
“In addition to the economic boost the project will bring, as part of our commitment to community we are offering fast, reliable internet coverage for properties surrounding the project and investment opportunities for residents in the Central-West Orana Renewable Energy Zone.
“Once fully operational, this wind farm will prevent more than 560,000 tonnes of carbon emissions being released into the atmosphere annually, playing an important role in addressing climate change," said Willoughby.
In order to support Forrest’s commitment to financing and developing Squadron Energy’s development pipeline, Squadron Energy has entered into a $2.75 billion green strategic alliance for wind turbine supply with GE Vernova.
Through the alliance, GE Vernova will supply Squadron Energy’s 414 MW Uungula Wind Farm with $1 billion worth of GE 6MW wind turbines and engineering, procurement and construction expertise through its consortium partners NACAP and CCP, and will also supply turbines for Squadron Energy’s next two NSW projects – Spicers Creek and Jeremiah wind farms.
Willoughby said the strategic alliance would strengthen the company’s rollout of renewable energy projects.
GE Vernova Wind segment leader Vic Abate said he was delighted to partner with Squadron Energy and highlighted the benefits of the alliance.
“While the Inflation Reduction Act has unleashed significant investment in clean energy across the US, there are undoubtedly flow-on benefits for other markets. This alliance is a prime example, with Australia securing access to GE Vernova’s technology base and accelerating the path to more reliable, affordable, and sustainable energy,” Mr Abate said.
“With global demand accelerating, it is essential for Australia to embrace strategic supply chain initiatives to provide certainty in the rollout of renewable energy.”
