Australian mining mogul Andrew Forrest has paid A$3 billion ($2.2 billion) for the largest renewables farm in the Southern Hemisphere, the Clarke Creek project in Queensland.
According to news reports, Clarke Creek project is a wind, solar and battery farm development with contracts already in place for the immediate start of construction.
The farm will include a giant battery, 800 megawatts of wind generation and 400 megawatts of solar. Once complete, the project could produce enough wind, solar and battery energy to power more than 40 percent of Queensland households and will save an estimated 2.7 million tons of carbon emissions annually.
The acquisition of both stages of the Clarke Creek project was completed by Squadron Energy, the energy division of the Forrest family’s investment group, Tattarang. Stage 1 of the Clarke Wind project is expected to be fully operational in 2024, with Stage 2 to come online in 2026.
“We are investing in Clarke Cree