Andrew Forrest’s Squadron Energy has passed another key planning hurdle for one of its major renewable and storage projects, with the NSW Independent Planning Commission given approval for the Spicers Creek wind and big battery project.
The 700 megawatt (MW) wind farm and the 400 MW, 1,800 MWh battery energy storage system at Spicers Creek, near Wellington and Gulgong in the central west of the state, was referred to the IPC after 57 submissions were lodged against the project, and the Warrumbungle Shire Council also objected.
Of the objectors to the $2 billion project, 35 lived more than 50km from the project, and all seven of the parties who made submissions in favour of the development live within 5km.
The IPC says it has approved the project after holding a public meeting where they heard from 17 speakers, visited the site and received 43 written submissions. Most were concerned with visual impact, land use, traffic and transport, property values, contamination, fire risk and the reliability of wind energy.
The IPC said it was satisfy that none of the issues raised was enough to warrant a refusal of the project, and given it was in the Central West Orana REZ, considers the site suitable for development.
The approval is subject to a number of conditions including the preparation of comprehensive management plans, monitoring, compliance, and screening for at least one property located within 4.5 kms of the turbines.
The project is also working its way through the federal EPBC process and last month sought approval for a number of changes including the undergrounding of some power lines and the removal of unnecessary access tracks.
The project includes up to 117 turbines with a maximum tip height of 256 metres high, and a 400 MW battery energy storage system (BESS).
In addition to a CPI-indexed community benefits scheme, Squadron is offering people who live locally to the wind farm an opportunity to invest in the project, with a minimum buy-in of $1000 and a maximum of $20,000. It is promising 7 per cent annual returns for ten years, after which the investor receives their capital back.
ASX-listed DomaCom, a company that specialises in fractional ownership, is handling the fund, after rolling out a similar facility for the Sapphire wind farm in 2019.
Earlier this week, Squadron announced it is looking to develop the new Bookham project, which proposes to combine 99 wind turbines, capacity of 594MW and an as yet unspecified battery storage component west of Yass.
Last year Squadron opened the 240 Bango wind farm and is also building the 450 MW Clarke Creek wind project in Queensland.
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