Andrew Forrest-owned Squadron Energy has secured one of the most significant wind financing deals in recent memory, with $1 billion locked away for stage one of the Clarke Creek wind farm in Queensland.
Squadron attracted the interest of 10 banking partners for what is one of Australia’s largest wind projects, with stage one and two of Clarke Creek set to generate more than 1GW of clean energy, powering more than 700,000 homes.
Stage one of the project recently opened, boasting a 100-turbine, 450MW operation that can power 330,000 homes, with stage two currently in an advanced planning stage.
Squadron head of capital markets and investments David Sidoti acknowledged the significance of the deal.
“This financing demonstrates the depth of support for renewable energy in Australia and the strength of our relationships with leading financial institutions,” he said.
“Clarke Creek is a cornerstone project that will deliver significant clean energy capacity and help drive Australia towards its renewable energy goals.”
“This transaction was a true team effort. It reflects the collaboration and expertise across our business to deliver one of the most significant wind financings in the market.”
Squadron’s $1 billion deal continues the financing rush for Australia’s renewables sector.
Neoen secured $1.4 billion debt in December 2024 to more than double its financing in Australia. This was spread across three solar farms, one wind farm and one BESS (battery energy storage system) spanning 1.3GW of capacity and brought the company’s total Australian financing to more than $2 billion.
Neoen attracted the interest of 11 Australian and international lenders on that occasion.
In the same month, GPG Australia secured $2.3 billion in financing from 11 international banks to support eight assets including six wind farms, one BESS and one solar–hybrid project.
This brought GPG Australia’s total generation to 1.87GW, with 1GW of operational projects and 870MW in the pipeline.
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