Chance for locals to invest in renewable energy future

Crudine Ridge Wind Farm, one of Squadron Energy's operational wind farms about 45km south of Mudgee. Picture supplied

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The Central West Orana community is being offered the opportunity to support renewable energy projects for the region by investing in the developments.

Leading Australian renewable energy company Squadron Energy has joined with investment platform DomaCom to launch a new community investment fund that allows local people to invest as little as $1000 in Squadron Energy, whose projects include the Uungula and Spicers Creek wind farms.

Investment in the Central-West Orana Community Investment Fund is open to any resident living in the NSW Government's Central West Orana Renewable Energy Zone (REZ) - a 20,000 square kilometre area centred on by Dubbo and Dunedoo.

For those living within eight kilometres of either the Uungula or Spicers Creek wind farms, Squadron Energy will match the amount invested by community members for investments up to $2,000.

The fund is planned to also include additional Squadron Energy developments in the region over time.

Dubbo Regional Council chief executive officer Murray Wood said the initiative was an example of how the renewable energy companies and the community can work together to build a positive future for regional Australia.

"The Community Investment Fund sets a benchmark for the industry and is another example of what great, forward-thinking partnerships can achieve," he said.

"Here at Dubbo Regional Council we are excited to be working with Squadron to achieve legacies for our communities in a way that also helps us set the standards for the rest of the renewables industry in our region, as Australia transitions from traditional energy sources.

"This approach shows funding doesn't always have to be project specific, but rather a proponent can work with community more broadly to build a positive future for our region."

Squadron Energy chairman Jason Willoughby said the investment program was designed to create benefits for the community and the environment.

"We look forward to working with local investors to create a cleaner and more sustainable future for the country," he said.

Picture at the sod-turning of Uungula Wind Farm early this year are (from left) Dugald Saunders, NSW Nationals Leader & Dubbo MP; Andrew Forrest, Tattarang Chairman; Chris Bowen, Minister for Energy & Climate Change; Mathew Dickerson, Mayor, Dubbo Regional Council; Jackie Brown, APAC Commercial Director Onshore Wind, GE Vernova, and Jason Willoughby, Squadron Energy Chairman. Picture supplied

"We're thrilled to be working with DomaCom to offer residents in the Central West Orana region the chance to participate and reap the rewards of investing in Australia's transition to renewable energy."

The launch of the Central West Orana fund follows the successful rollout of the DomaCom Sapphire Wind Farm Community Investment fund for the largest operational wind farm in NSW. Also a Squadron Energy project, the Sapphire Wind Farm near Glen Innes was the first commercial wind farm to open for public community investment in Australia. It began commercial operation in 2018.

This new community investment fund is being launched through DomaCom's innovative online retail investment platform that offers investors easy access, reporting and transparency, and the option to invest comparatively lower minimum investments.

DomaCom chairman John Hewson said DomaCom was pleased to provide the unique opportunity for community investment.

"It's another example of how the DomaCom Fund can provide retail investors with opportunities to take up small stakes in larger scale investments, including those in the sought after renewable energy infrastucture space," he said.

To find out more about Squadron Energy Central West Orana Community Investment Fund visit domacom.com.au

Other eligibility criteria may apply. For further information please read the 'Matched Funding' to Eligible Investors living within 8 km of the UWF or SCWF section of the Supplementary Product Disclose Statement found on the Opportunities page of the DomaCom Website. This information has been prepared by DomaCom Australia Limited (ACN 153 951 770, AFSL 444365) as the manager of the DomaCom Fund (ARSN 167 020 626) and is general advice only. All investments in the DomaCom Fund carry risks and the value of your investment may increase or decrease. Before acting on the information provided you should consider the appropriateness of the information, in the light of your own objectives, financial situation or needs. Units in the DomaCom Fund are issued Melbourne Securities Corporation Limited ACN 160 326 545 AFSL No. 428289. Read the PDS here and TMD here.