Squadron in $220m loss as it digests CWP buy
Squadron Energy, the private renewable generation group controlled by the billionaire Forrest family, has recorded its first sales but slumped to a $220 million loss after the $4.2 billion purchase of CWP Renewables.
The company’s accounts, lodged with the Australian Securities and Investments Commission, showed Squadron recorded $84.6 million in revenues in the 12 months to June 30 – around one-third was from the sale of renewable energy certificates generated by its wind turbines.
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