Andrew Forrest-backed wind farm gets taxpayer revenue guarantee

Ronald MizenPolitical correspondent

Dec 11, 2024 – 12.01am

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Andrew and Nicola Forrest’s Squadron Energy and oil giant BP’s renewables arm Lightsource are among 11 companies to get federal government revenue guarantees in the first major auction of the Capacity Investment Scheme.

Energy Minister Chris Bowen will on Wednesday announce 19 projects to get the taxpayer guarantee. These will deliver 6.4 gigawatts of renewable energy along with 3.5 gigawatt hours of battery storage systems.

correction —

An earlier version of this story incorrectly stated in the headline that a solar farm backed by Andrew Forrest would receive funding. The funding went to a wind farm backed by Mr Forrest, as the article correctly stated.

Ronald Mizen is the Financial Review’s political correspondent, reporting from the press gallery at Parliament House, Canberra.