Forrest adds energy in assets renewables rush

Forrest’s foray into the energy sector includes plans to transform his Fortescue into a producer of green hydrogen, as well as a stake in Sun Cable’s A$30bil project to export renewable energy from Australia to Singapore. — Bloomberg

SYDNEY: Billionaire Andrew Forrest agreed to acquire Partners Group Holding AG-backed CWP Renewables Pty Ltd, extending a rush of deal-making focused on Australia’s accelerating shift to cleaner energy.

Forrest’s Squadron Energy Pty will acquire a CWP portfolio that includes 1.1 gigawatts of wind operations and approvals for solar-to-battery assets, the buyer said in a statement yesterday, without providing financial details.