Squadron Energy acquires CWP Renewables for $ 2.7 billion
Post date: 08/12/2022 - 14:10
Squadron Energy, an Australian renewable energy company and part of the Tattarang Group controlled by billionaire Andrew Forrest, has acquired CWP Renewables, a project developer and operator of wind and battery storage power plants. According to media reports, Swiss investment firm Partners Group, as CWP’s owner, received four billion Australian dollars (USD 2.68 billion) for the transaction, which is still subject to approval. Initial reports on the bid had already appeared in April this year.
According to Squadron Energy, this gives the company an operating portfolio with 2.4 gigawatts (GW) of total capacity; about 1.1 GW of this was added through the CWP acquisition. Squadron’s project portfolio now totals approximately 20 GW. In addition to the Clarke Creek wind, solar and battery power plant currently under construction with 1.2 GW of total capacity, the company »will be commencing construction of another 2GW worth of projects within the next 18 months.«