Squadron Energy has secured $1 billion in financing for the first stage of the Clarke Creek Wind Farm in central Queensland, marking a significant milestone for the project and Australia’s renewable energy sector.
The financing was arranged with a bank group of 10 capital partners and strongly supported by Squadron Energy’s existing banking partners.
David Sidoti, Head of Capital Markets and Investments at Squadron Energy, said the deal reflects robust support for the Clarke Creek development and highlights the company’s role in driving the transition to cleaner energy sources. He described the financing as emblematic of deep institutional backing for renewable projects and the strength of Squadron’s relationships with leading financial institutions.
Clarke Creek Wind Farm is set to play a pivotal role in Australia’s energy future, delivering large-scale renewable capacity and contributing to national emissions reduction goals. Stage one of the project comprises 100 turbines with a capacity of 450MW, enough to power the equivalent of around 330,000 Queensland homes and avoid approximately 738,000 tonnes of carbon emissions annually.
Once completed, stages one and two of the development are expected to be among the largest wind farms in the country, generating more than 1GW of green energy, powering over 700,000 homes and delivering about $20 million in community benefits over the life of the projects.
The Clarke Creek Wind Farm, located between Rockhampton and Mackay on traditional Barada Kabalbara Yetimarala lands, continues to advance Australia’s renewable ambitions while contributing to regional investment and employment through construction and operation.