Billionaire Forrest Aims to Develop 5 GW of Wind Farms by 2030

Andrew Forrest, the Chairman and Founder of Fortescue Metals Group speaks at the Sydney Energy Forum in Sydney, Australia July 12, 2022. Brook Mitchell/Pool via REUTERS/Files

CWP Renewables, now in the hands of Andrew Forrest, plans to develop 5 gigawatts of wind farms in Australia by 2030, a multibillion dollar task the mining magnate said could be funded with the help of pension funds and big institutions.

Forrest's private firm Squadron Energy acquired CWP Renewables for more than A$4 billion from Swiss-based Partners Group.

($1 = 1.4939 Australian dollars)