Squadron Energy expands its renewable energy footprint into wind

Squadron Energy and “Wind Acquisition 1 Pty Ltd” have joined forces to acquire 100 per cent of renewable energy company Windlab’s outstanding ordinary shares through a scheme of arrangement.

04 Mar 2020

1 minute read

Squadron Energy and “Wind Acquisition 1 Pty Ltd” have joined forces to acquire 100 per cent of renewable energy company Windlab’s (ASX: WND) outstanding ordinary shares through a scheme of arrangement. Wind Acquisition 1 is an investment vehicle of funds managed by Sydney-based Federation Asset Management Holdings which currently holds an 18.7 per cent interest in the company.

Windlab

Owns 40MW of operating windfarms in Victoria and Queensland.
Provides asset management services for 485MW of projects in Australia.
Has a development funnel of projects with capacity in excess of 7500MW in Australia, South Africa, Tanzania and Kenya.

Under this scheme announced today, Windlab shareholders are set to receive a cash consideration of $1.00 per Windlab share, representing a 30 per cent premium to the six-month volume weighted average price of $0.77 per share.