• Deutsche Bank has committed approximately $115 million to refinance six Squadron Energy wind assets across Australia.
• The financing supports about 1.5 GW of operating wind capacity and the Uungula Wind Farm under construction in New South Wales.
• The flexible financing can support Squadron Energy’s future growth, including potential battery energy storage projects.

Deutsche Bank has committed approximately $115 million to a refinancing package for Squadron Energy, expanding its backing of renewable energy infrastructure in Australia.

The financing covers five operating wind assets and the Uungula Wind Farm, which is under construction in New South Wales. Together, the financed portfolio represents approximately 1.5 GW of renewable energy capacity.

Squadron Energy is the renewable energy platform of privately owned Australian investment group Tattarang. The company develops, owns and operates renewable energy assets across Australia.

Its wider portfolio comprises approximately 2 GW of wind assets across New South Wales, Victoria and Queensland.

Deutsche Bank financing supports 1.5 GW

The refinancing provides Squadron Energy with flexible, non-recourse financing across its portfolio of operating and developing wind assets.

Rather than financing each project separately, the structure gives Squadron Energy greater flexibility across its portfolio. It can also accommodate future growth as the company expands its renewable energy operations.

Importantly, the financing includes the option to extend into battery energy storage projects.

That flexibility is becoming increasingly valuable in Australia’s electricity market. Growing wind and solar generation is increasing the need for storage capacity that can balance supply and demand.

Battery projects can store electricity during periods of strong renewable generation and dispatch it when demand rises. They can also provide services that support grid reliability.

For Squadron Energy, the ability to bring storage into the financing structure creates another route for expanding its portfolio beyond generation alone.

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Deutsche Bank deepens Squadron partnership

The commitment expands Deutsche Bank’s relationship with Squadron Energy as financial institutions increase their role in funding Australia’s energy transition.

Michael Volkermann, Global Head of Project Finance at Deutsche Bank, said: “Deutsche Bank’s commitment reflects our confidence in the operational strength of Squadron’s wind portfolio and its long-term growth strategy, both of which are expected to play an important role in Australia’s energy transition. We are pleased to deepen our partnership with Squadron and support the next phase of its growth.”

The non-recourse structure means lenders primarily rely on the financed assets and their cash flows for repayment. This can help renewable energy developers raise capital without placing the same obligations on their wider corporate balance sheets.

For lenders, portfolios containing operational assets can also offer established performance histories alongside exposure to new renewable energy growth.

Australia’s energy transition needs private capital

Australia is working to expand renewable generation as coal-fired power stations retire from the electricity system.

That transition requires substantial investment across generation, storage and transmission infrastructure. Financing structures will also need to evolve as renewable portfolios become larger and more complex.

For banks and institutional investors, this creates a growing pipeline of infrastructure financing opportunities. For developers, access to flexible capital can determine how quickly projects move from development into construction and operation.

The Squadron Energy refinancing illustrates that shift. The financing covers existing assets, a wind farm under construction and potential future battery projects within a broader portfolio structure.

For executives and investors, the deal also highlights the increasing importance of capital flexibility. Renewable energy developers are no longer building generation assets in isolation. Storage, grid integration and portfolio expansion are becoming central to long-term investment strategies.

As Australia moves toward a power system with a larger share of renewable generation, private finance will remain critical. Banks capable of funding both existing assets and future expansion will play an increasingly important role in determining the pace of that transition.