Squadron launches community investment fund for 1.1 GW of Aussie wind

Aussie renewable energy developer Squadron Energy has set up a new fund that will enable local communities to invest in two of its wind farms in New South Wales with a combined capacity of 1.1 GW.

The company owned by iron ore billionaire Andrew Forrest said on Monday that the programme will be available to residents of the Central West Orana region and those living within the Central-West Orana Renewable Energy Zone (REZ). Via the Squadron Energy Central West Orana Community Investment Fund, they will initially be able to become investors in the 414-MW Uungula and 700-MW Spicers Creek wind farm projects, while additional schemes will be added over time.

The minimum amount for residents to invest is AUD 1,000 (USD 652.5m/EUR 603.2m). For those living within 8 km (5 mi) of either Uungula or Spicers Creek there will be an additional initiative of up to AUD 2,000.

Investment platform operator DomaCom Limited has assisted Squadron in establishing the community investment programme through its online retail infrastructure. “The program is designed to create benefits for the community and the environment, and we look forward to working with local investors to create a cleaner and more sustainable future for the country,” said Squadron Energy’s chairman Jason Willoughby.

(AUD 1.0 = USD 0.652/EUR 0.603)

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