We develop the high impact and complex projects that will support rapid decarbonisation. Innovation is at the heart of everything we do.
Human-made climate change is real. But we can do something about it. We want Australia to transition to a zero-carbon economy. Quickly.
Squadron Energy looks to invest throughout the energy supply chain with a focus on enabling more rapid decarbonisation.
We target investments and delivery projects in renewable generation and the infrastructure and technology that is needed to deliver it. We also invest in transition projects that are needed to provide a reliable and secure energy system in the short term, without creating a longer-term dependence on fossil fuels.
We won’t invest in coal, oil sands, crude oil, or in any developments in sensitive marine environments. But we will invest in energy transition projects such as dual fuel (gas and green hydrogen) power generation that has a pathway to 100 per cent green hydrogen.
Our portfolio is focussed on renewable energy, transition natural gas, electricity generation and energy infrastructure.
We are committed to the transition to a low carbon energy future. With its combination of a low short run marginal cost, high capacity factors and a low carbon footprint, electricity from wind energy is affordable, reliable and clean.
Our investment in Windlab is consistent with that commitment. Windlab is an Australian-based, technology-focussed windfarm developer, owner, and operator. Windlab uses a combination of WindScape (CSIRO developed) technology and a highly skilled workforce to design and develop some of the most efficient windfarms in Australia. Windlab has a significant portfolio of excellent wind development projects totalling over 7500 MW in Australia and Africa which are complemented by revenue streams from operating assets and its growing operations and asset management businesses.
The capacity of all wind turbines installed worldwide by the end of 2019 reached 650 Gigawatts, with 60 Gigawatts being added in 2019 alone. The World Wind Energy Association (WWEA) estimates that this is enough to meet more than 6 per cent of the global electricity demand.
Australia has world class wind resources which now provide 8.5 per cent of all electricity generated and 35.4 per cent of all renewable energy. The Clean Energy Finance Corporation (CEFC) reports that eight wind farms were commissioned in 2019, adding 837MW of new generating capacity, which was the highest annual increase in the history of the Australian wind industry.
At the end of 2019, 30 wind farms with a combined capacity of 5500 MW were under construction or financially committed nationally.
Squadron Energy is delivering the $3 billion Clarke Creek wind, solar and battery project in Central Queensland.
The new green energy precinct will deliver lower power prices for households and businesses, create regional jobs and boost local economies across the state.
ENERGY TRANSITION PROJECT
Squadron Energy is constructing the Port Kembla Energy Terminal which will have the capacity to import more than 70 per cent of NSW’s gas needs. This will support the transition to renewables by providing a short-term solution for gas needs, without locking in a 25-30-year investment in new polluting gas fields.
Once NSW no longer needs natural gas during the energy transition, the terminal can then be re-purposed for green hydrogen exports/imports.
ENERGY TRANSITION PROJECT
Squadron Energy is proposing the development of Australia’s largest dual fuel (gas and green hydrogen) power station at Port Kembla in NSW. This will provide Australia’s power system with the stability and reliability it needs as coal fired power is phased out.
The power station is being designed to transition to 100 per cent green hydrogen which means there will be no longer term dependence on fossil fuels.