Frontier acquires Waroona Energy, forming a major Australian renewable energy entity

Frontier Energy Limited (ASX: FHE) solidifies deal with Waroona Energy Inc., becoming a leading Australian renewable energy entity with a capacity exceeding 1GW. As per the agreement, Frontier will acquire all remaining Waroona shares via a Canadian Plan of Arrangement, with key terms and implementation timelines unchanged from the previously agreed Letter of Intent. Waroona shareholders will be granted 1 Frontier Share for every 4.27 Waroona Shares they possess as part of the Share Plan.

This deal, unanimously endorsed by Waroona's Board of Directors, strengthens Frontier's position, combining their 114MW Stage One solar generation capacity with Waroona's 241MW capacity, enabling a potential 355MW of solar power. Frontier's land assets will increase by over 50% to 868 hectares, enhancing their capacity for future renewable energy projects, and their fortified financial position simplifies project financing and communication with stakeholders, expediting development.

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