Andrew Forrest, billionaire, plans to construct the largest wind farm in New South Wales
‘The time for talk is over: we are investing right now in Australia’s green energy transition,’ Forrest said.
Squadron Energy, Australia’s leading renewable energy company owned by mining magnate Andrew Forrest, has begun building the largest wind farm in New South Wales (NSW).
Described as a landmark milestone for renewable energy transition in Australia, the ambitious project is expected to add 14 gigawatts of new capacity and generate sufficient electricity for the equivalent of six million homes.
The wind farm would be situated near Wellington within the Central-West Orana Renewable Energy Zone and has an approved connection to the existing transmission grid.
Mr. Forrest called the project “a positive force for regional communities,” adding that the area near Wellington would be “at the forefront of the green energy transition.”
“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.”
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‘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,’ he said.
Further, the billionaire told the ABC said that the 14 gigawatts is “one third of what Australia needs to reach its renewable energy target we’re all cheering for and so this comes in and buttresses that.”
Minister for Climate Change and Energy Chris Bowen has welcomed the project.
“These projects are further proof renewable energy investors are getting on with the job, emphasizing Australia’s huge renewable potential, and helping transform our energy grid for the 21st century,” he said.
He argued that renewable energy and storage is “the cheapest form of energy” and provides “crucial reliability” as coal fired power stations exit the system.
In a bid to finance and develop its development pipeline, Squadron Energy has also coined a $2.75 billion strategic alliance with turbine manufacturer GE Vernova.
GE Vernova will provide Squadron Energy with $1 billion worth of wind turbines and engineering, procurement and construction services.
“With global demand accelerating, it is essential for Australia to embrace strategic supply chain initiatives to provide certainty in the rollout of renewable energy,” said GE Vernova Wind segment leader Vic Abate.
