Mark McGowan yet to power up for chair’s role at rattled solar hopeful Frontier Energy

Former WA premier Mark McGowan is yet to take the reins as chair of solar hopeful Frontier Energy, four weeks after the company confirmed to The West that he had started. Frontier this morning insisted Mr McGowan would be in the job in October — after previously saying he’d be on board at the start of September. The Australian Securities Exchange-listed junior is planning a $300 million solar and battery project at Waroona but suffered a blow this week when the proposal failed to get a crucial revenue stream locked in. The revelations to investors on Wednesday about the delay to Mr McGowan’s appointment followed repeated questions by The West Australian. The announcement he would take the helm of the company sent Frontier shares rocketing in August — with a capital raising launched just days later. Asked by The West on September 6 if Mr McGowan had started as chair, a spokesman for Frontier said: “Yes, Mark McGowan is the chairman.” But after further questioning from The West on Tuesday, the company has revealed Mr McGowan has not yet started the job. It’s understood the new plan is that he will commence after Frontier’s next general meeting, due on October 8. The company has had a rough week, with shares down about 43 per cent on Tuesday. The dive followed the junior’s announcement that the Waroona project would not receive capacity credits — a payment to ensure there’s enough power generation on the grid. That also knocked out Frontier’s major debt financing facility with Infradebt. Frontier chief executive Adam Kiley told investors on Wednesday Mr McGowan was still lined up for the job. “I believe that’s still the intention, I was speaking to him yesterday,” Mr Kiley said. “Obviously he’s quite surprised and a bit shocked, as (are) the rest of the management and the board, regarding the outcome (of the capacity credit decision). “The plan is that he’ll be commencing in October.” Mr McGowan — who led his Labor party to a crushing defeat of the Liberal and National opposition in 2021 — did not immediately respond to a request for comment on Wednesday morning. In 2022, his Government announced the closure of State-owned coal power stations by the end of the decade, in a bid to speed up WA’s green transition. Frontier shares last changed hands at 12.5¢.